Community Pork Ventures is in receivership after a Regina judge did not agree with the company’s restructuring proposal.
CPV operates 16 farrow-to-finish operations in Saskatchewan and Manitoba and produces about 250,000 pigs each year.
The company sought protection under the Companies’ Creditors Arrangement Act last December, and saw that protection extended by the court several times as it developed its restructuring plan.
But Queen’s Bench justice Larry Kyle ruled June 17 that the plan the company came up with was “doomed” to fail.
KPMG is now overseeing the company’s operations and looking for buyers.
