KINGSPORT, Tenn. (AP) - A year after celebrating the opening of its global headquarters in East Tennessee, Pure Foods Inc. has filed for Chapter 11 bankruptcy protection.
The Kingsport Times News (https://bit.ly/2kOr5Is) reports Pure Foods President and CEO John Frostad said the company is seeking a buyer. According to court records, the specialty snack food maker, which produces nutrient-dense and low-fat specialty snack foods, estimates it owes between $1 million and $10 million to more than 100 creditors.
In a news release, Pure Foods said it invested $22 million to build the 88,000-square-foot facility in Kingsport, which was expected to create more than 270 jobs in Sullivan County over five years.
Frostad said the hope is that a buyer will continue to operate the facility and grow the business.
Information from: Kingsport Times-News, https://www.timesnews.net
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