Puratone, a Manitoba hog company, is denying reports that it is going bankrupt.
President John Koslowsky says one of its managers, Rene Chabidon, “misstated the company’s financial position” when speaking to reporters recently.
Chabidon was reported as saying hog prices are bad, and that “it’s a matter of time to see if it would cause us bankruptcy, but we’re confident the markets will turn around.” Chabidon had said the company was losing more than $200,000 per week.
Rumors that Puratone was in financial difficulty have circulated in Manitoba agriculture circles for weeks.
Koslowsky said Puratone, an integrated hog producer, is financially sound in spite of low prices and “has been successful in making the necessary adjustments to offset losses.”
Puratone employs 200 people.
