Subscribe Register Login

Tuesday, September 02, 2014, 12:15 p.m.
Top Picks - Capture Arkansas

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

  • Qa technicians

    earn egg-cellent pay Along with an excellent compensation pa...
    SILOAM SPRINGS, AR

  • Systems admin.

    University of Arkansas at Little RockSystems Administrator T...
    LITTLE ROCK, AR

  • Administrative associate

    Transport Refrigeration Part-Time administrative associate T...
    LOWELL, AR

  • Full time sales person

    pine bluff and hot springs areas need one fulltime sales per...
    Pine Bluff, AR

  • Admin. asst.

    administrative assistantlittle Rock, ArkansasCapital Habeas ...
    LITTLE ROCK, AR

Search 912 jobs >

Top Picks - Capture Arkansas
Arkansas Online