Pork processors seek bankruptcy protection
TORONTO, Ontario – Quality Meat Packers and Toronto Abattoirs Ltd. have filed for court protection from creditors, according to local news reports.
Both companies plan to continue operations while restructuring under Canada’s bankruptcy laws. Headwinds for the pork processors include higher prices for hogs combined with the spread of Porcine Epidemic Diarrhea virus (PEDv) that has killed piglets on Canadian hog farms.
Quality Meat Packers is one of the largest pork processors in Ontario and one of four federally inspected plants in the province. The company was founded in 1923, and became Quality Meat Packers Ltd. in 1931 after founder Nathan “Nick” Schwartz acquired eight meat markets in Toronto, according to the company’s website. The company bought the Toronto Civic Abattoir in 1960, and this location currently is the site of Quality Meat Packers’ head office, processing and distribution facilities.