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 >
Sager Creek Acquisition Corp. was the high bidder Monday in an auction to buy Allens Inc. of Siloam Springs, according to a source close to the sale. read more >
Between October and the end of 2013, Allens Inc., the Siloam Springs cannery, lost $14.1 million. read more >
Businesses have been buying businesses out of bankruptcy for years and the trend should continue, said Michael Stewart, a partner in Faegre Baker Daniels LLP of Minneapolis, a 750-attorney law firm that focuses on financial restructuring services. read more >
Allens Inc. of Siloam Springs retains GA Keen Realty Advisors to market and sell excess, "non-core" industrial properties, vacant land and a home in Arkansas, Louisiana, Mississippi and Oklahoma. read more >
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 >
Seneca Foods Corp. of Marion, N.Y., says it has entered into an asset purchase agreement to acquire "substantially all the operating assets" of Allens Inc. of Siloam Springs, the privately held canning company that filed bankruptcy. read more >
