Pork Producer HyLife Places Units in Bankruptcy, Seeking Sale

International pork producer HyLife placed three subsidiaries into bankruptcy, intending to sell its hog raising and processing businesses through a “competitive bidding process.”

The units, which comprise a portion of HyLife’s enterprise and operate in the US and Canada, sought relief Thursday in the US Bankruptcy Court for the District of Delaware, owing $108 million in secured debt.

The subsidiaries have been incurring regular operating losses since May 2020 when HyLife acquired a major processing facility in Minnesota, CEO Grant Lazaruk said in court papers. The units incurred average monthly losses of $6 million to $7 million, he said.

Lazaruk ...