Pig Farm Bankrupt

A North Carolina pork producer closes its doors, blames failing business on swine flu fears.

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Whether the economic crisis or widespread fear over swine flu are to blame, the pork industry has taken a financial hit this year. On November 6, Cohaire Hog Farms filed for bankruptcy protection, reporting massive debt, and plans to permanently shut down operations. Its debt exceeds $1 million, with unpaid bills mounting from large creditors as well as local corn farmers. Along with filing for Chapter 11, the North Carolina-based company announced it will liquidate all assets-including its 30,000 pigs, which will be sold. Coharie is the 22nd largest producer of pork in the US, and North Carolina houses the second largest pork industry in the country.