Tagged: Rick Allen

Trustee Charges Collusion in Allens’ Case

Trustee Charges Collusion in Allens’ Case

LegalCover Story

The trustee in Allens Inc.’s Chapter 7 liquidation has accused some creditors of scheming to buy the Siloam Springs vegetable and food processor out of bankruptcy in 2014 in order to save themselves millions while leaving most creditors holding an empty bag. read more >

Allens’ Successor Sager Creek Also Faced Financial Trouble

Allens’ Successor Sager Creek Also Faced Financial Trouble

LegalCover Story

The company that bought Allens Inc. of Siloam Springs out of bankruptcy was just a week away from filing its own Chapter 11 bankruptcy in February, according to the trustee for Allens. Sager Creek Vegetable Co. “had significant cash-flow problems,” Allens’ Chapter 7 Trustee R. Ray Fulmer II of Fort Smith told Arkansas Business. read more >

Allens Debts Higher Than Expected

Allens Debts Higher Than Expected

WhispersBanking & FinanceLegalRestaurants & Food

Allens Inc.’s debts are now itemized and total $289.9 million. That’s about $10 million more than was estimated when the Siloam Springs company filed for Chapter 11 bankruptcy protection at the end of October. read more >

Allens Inc. for Sale, Bankruptcy Filings Show

Allens Inc. for Sale, Bankruptcy Filings Show

LegalRestaurants & FoodCover Story

Allens Inc. sold most of its financially disastrous frozen-foods division in 2012, and now the rest of the company is up for sale, according to documents filed in one of Arkansas’ largest bankruptcy cases. read more >