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Montco Meat Processor Files For Bankruptcy
A ground beef processing company based in Montgomery County has filed for Chapter Eleven bankruptcy protection. AFA Foods, with headquarters in King of Prussia, says it was already struggling because of thin profit margins and competition from other kinds of meat, and controversy over a filler some people call “pink slime” pushed it into bankruptcy.
The company says it does not rely on the controversial filler, using it only if the customer wants it, AFA has secured financing, and it will continue serving customers. The company’s wholesale customers include Walmart, Safeway, Weis, BJ’s Club, Wendy’s and Burger King.