Dahl’s bankruptcy could leave small sum for employees
After paying off all its creditors, bankrupt Dahl’s Food Inc. could have only $1 million to divide among about 900 members of the company’s employee stock ownership plan, according to a document filed Aug. 17 in U.S. Bankruptcy Court for the Southern District of Iowa. Dahl’s said it had assets of about $6.4 million that will be used to first pay the $4.7 million it owes secured creditors, in bankruptcy fees and to vendors and service companies, reports DesMoinesRegister.com.
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