Guest guest Posted January 15, 2002 Report Share Posted January 15, 2002 http://mdn.mainichi.co.jp/news/20020115p2a00m0fp012000c.html Sun Meat goes bust with 1.24 billion yen in debts NAGOYA -- A meat trading company straddled with 1.24 billion yen in debts has gone bankrupt in the largest collapse triggered by the mad-cow disease outbreak, officials said Tuesday. Sun Meat in Nagoya's Minato-ku, one of the largest meat processing businesses in Aichi Prefecture, has already applied for court protection from creditors and its assets have been frozen, officials of the Teikoku Databank Nagoya branch said. The bankruptcy marks the 24th collapse caused by sluggish business in the beef-related industry since the first case of mad-cow disease, or bovine spongiform encephalopathy (BSE), was uncovered in September last year. On top of borrowing some 9 billion yen to build a factory in 1998, the mad-cow outbreak proved fatal for the company. The company's sales dropped by some 30 percent after the outbreak, the officials said. The company ended up applying for bankruptcy with the Nagoya District Court on Jan. 11. (Mainichi Shimbun, Jan. 15, 2002) Send FREE video emails in Mail! http://promo./videomail/ Quote Link to comment Share on other sites More sharing options...
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