22 Aug 2014
80° Partly Cloudy
Patch Instagram photo by patch
Patch Instagram photo by _7_jasonmichael

Quantum Foods Buyout Falls Through; Workers Told Not to Come In

Majority of employees told not to report to work on Friday union says.

Quantum Foods Buyout Falls Through; Workers Told Not to Come In
After a $54 million deal to sell the bankrupt Quantum Foods fell though, the meat processing company told most of its 1,000 employees not to come to work on Friday, according to the Chicago Tribune.

An attorney representing United Food and Commercial Workers Local 1546 told the paper that the union had supported the sale of the business to Raging Bull Acquisition Co. and was saddened to learn that negotiations had fallen apart.

The deal was approved by a judge after Quantum filed for bankruptcy protection in February. The company reportedly owes more than $50 million to creditors holding secured claims, 

Share This Article