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Court approves Kane Beef sale, closing set for this month

Posted at 11:43 PM, Feb 14, 2019
and last updated 2019-02-15 00:43:35-05

Kane Beef should be up and running with its employees back to work before the end of the month. That’s according to the former bankruptcy judge appointed to oversee plant operations.

Richard Schmidt tells KRIS 6 News that a federal court has approved the sale. The new owner, Houston-based JDH Capital, hopes to have the plant operating again as soon as the deal is closed on February 22.

He says that will be the likely date when plant employees will learn when they’ll be called back to work.

“It will be a gradual process, but it will be a very rapid one where they’re brought on and back as employees,” Schmidt said. “The HR Department is there and they are already working on a plan to bring everybody back.”

In the meantime, Schmidt says an agreement should be reached soon with the city for the company to resume operations with its existing wastewater permit.

JDH Capital was the winning bidder during last week’s auction of Kane Beef, paying $28 million for the beef processing facility.