Woe for US poultry giant

One of the largest producers of chickens in the US, Pilgrim's Pride has announced it is filing for bankruptcy.

One of the largest producers of chickens in the US, Pilgrim's Pride has announced it is filing for bankruptcy protection.

The Texas-based operation, which employs almost 50,000 workers across 35 sites, last week warned it would be announcing losses of more than $800m for the three months to 27 September.

The company said it was now attempting to negotiate a $450m load to continue operations.

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