Subscribe Register Login

Wednesday, July 30, 2014, 6:42 p.m.
Top Picks - Mobile App

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

  • Branch manager

    branch managerthe Lonoke/Prairie County Regional Library is ...
    LONOKE, AR

  • Shop person

    sheet metal shop needs exp’d. Shop person able to do lay out...
    PEARCY, AR

  • Carpenters

    carpenters & crew neededmust be exp’d. 501-358-2240.
    MAYFLOWER, AR

  • Legal secretary -downtown little

    legal secretary-Downtown Little Rock law firm has an opening...
    LITTLE ROCK, AR

  • Maintenance tech

    Req # 13407Entergy Corporation, a Fortune 500 company, is an...
    MALVERN, AR

Search 952 jobs >

Top Picks - Mobile App
Arkansas Online