Allen Family Foods Looks To Spin Off Assets In Ch. 11

Law360, Wilmington (June 9, 2011, 5:56 PM EDT) -- Poultry producer Allen Family Foods Inc. retreated into bankruptcy protection in Delaware on Thursday, aiming to sell the bulk of its assets to an affiliate of Mountaire Farms of Delaware Inc.

The Seaford, Del.-based company — a vertically integrated operation that handles all aspects of poultry production, from hatching to processing — listed both assets and liabilities between $50 million and $100 million in its petition. Two affiliates, Allen’s Hatchery Inc. and JCR Enterprises Inc., also filed for court protection.

Allen Family Foods blamed the one-two...
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