Omtron, owner of Townsends, files for Chapter 11 protection

November 29, 2012
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WILMINGTON, Del. — Omtron USA LLC, which last year acquired some of the assets of bankrupt Townsends Inc., recently filed for Chaper 11 protection in Wilmington, Del.

Court documents listed assets of $10 million and debts of $50 million. Omtron USA, based in North Carolina, is a subsidiary of Ukrainian egg and egg-product producer Agroholding Avangard.

Ukrainian billionaire Oleg Bakhmatyuk owns Omtron. He closed  Townsends’ North Carolina operations in Siler City and Mocksville last year and laid off more than 1,100 workers. Omtron purchased Townsend’s operations for about $24.9 million, which included processing plants, hatcheries and feed mills.  Townsends liquidated under Chapter 7 provisions in 2011 after failing to successfully reorganize under its own Chapter 11 filing in December 2010. Townsends cited high feed prices as one factor that affected its business.

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