Businesses across the Coastal Bend are following the latest developments surrounding the possible auction of Kane Beef.
As we reported, the potential sale fell through when the buyer told a Houston bankruptcy he wasn’t able to secure funding.
Tuesday, plant workers at Kane Beef scaled back operations and most of its 750 employees have been furloughed.
Kane Beef not only supplies the region with meat, but it also exports to 25 countries. Several local restaurants also buy from Kane Beef and most business managers are watching the developments closely.
However, a local economics professor believes the auction could be a good thing for the meat company.