Subscribe Register Login

Tuesday, September 16, 2014, 6:28 a.m.
Top Picks - Arkansas Daily Deal

Allens to be sold in $124.78 million deal

By Staff Report

This article was originally published February 7, 2014 at 12:02 p.m. Updated February 7, 2014 at 12:10 p.m.

Allens Inc, a Siloam Springs-based canned vegetable company in Chapter 11 bankruptcy, will be sold to Sager Creek Acquisition Corp. for $124.78 million if approved by a bankruptcy judge.

Sager Creek is owned by investment funds controlled or advised by Sankaty Advisors LLC and GB Credit Partners LLC.

The agreement was reached after an auction was held. A hearing to approve the bid is scheduled for Tuesday.

In late October, Allens filed for Chapter 11 bankruptcy protection in U.S. Bankruptcy Court for the Western District of Arkansas. Court filings show that Allens owes its primary lenders $114.36 million and its secondary lenders $65.6 million, and had between $100 million and $500 million in assets.

Comments on: Allens to be sold in $124.78 million deal

To report abuse or misuse of this area please hit the "Suggest Removal" link in the comment to alert our online managers. Read our Terms of Use policy.

Subscribe Register Login

You must login to make comments.

TOP JOBS

  • Telemarketing agents

    Needed Position is part-time Starting at $9.00/hour Plus Bo...
    Bryant, AR

  • Cnas

    ashley health and rehabilitation is accepting applications f...
    ROGERS, AR

  • Social service direc

    social service director Must have 2 -3 years experience in L...
    LITTLE ROCK, AR

  • Vet tech/exp tech

    certified veterinary technician or experienced tech needed f...
    BENTONVILLE, AR

  • Sr. graphic artistt

    Sr. Graphic Artist Need a full-timeSr. Graphic Artist who h...
    MAUMELLE, AR

Search 870 jobs >

Top Picks - Arkansas Daily Deal
Arkansas Online