Quantum Foods Buyout Falls Through; Workers Told Not to Come In
Majority of employees told not to report to work on Friday union says.
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,