Pierre Foods Exits Ch. 11 As New CEO Takes Reins

Law360, New York (December 12, 2008, 12:00 AM EST) -- With its plan of reorganization cleared and a new CEO in place, prepackaged meals maker Pierre Foods Inc. has officially emerged from Chapter 11 protection, the company has announced.

A judge in the U.S. Bankruptcy Court for the District of Delaware had confirmed Pierre Foods' reorganization plan Wednesday after a confirmation hearing, finding that the plan was conceived in good faith and complied with the U.S. Bankruptcy Code.

Pierre Foods also closed on its $95 million exit financing strategy to fund ongoing operations and pay obligations...
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