Turkey-producer Zacky Farms files for bankruptcy

Fresno-based company blames the soaring price of feed

POSTED: 06:23 AM PDT Oct 10, 2012    UPDATED: 06:25 AM PDT Oct 10, 2012 
Turkey-producer Zacky Farms files for bankruptcy
FRESNO, Calif. -

One of the largest turkey producers in the nation, Zacky Farms, has filed for bankruptcy, blaming the soaring price of feed.
    
The Fresno-based family business filed a Chapter 11 petition on Tuesday. The company says it has between $50 million and $100 million in debts.
    
Zacky says its problems stem from the price of corn and soybean meal, which has nearly doubled in recent years. The company says it spends about $1.8 million a week to feed some 2.5 million birds.
    
Zacky has about 1,000 California employees. The company will be auctioned off by mid-January, after the main turkey-selling holidays of Thanksgiving and Christmas.
    
Zacky's chief restructuring officer, Keith Cooper, tells the Fresno Bee normal operations won't be affected.