America's biggest chicken producer, Pilgrim's Pride, has filed for bankruptcy protection.
Difficulty extending it's credit lines, combined with soaring grain prices has forced the Texan company to negotiate a $450 million financial package from the Bank of Montreal.
The money would be used to pay the wages of its 48,000 staff and continue the daily operation of its 35 chicken-processing plants.
The company has warned investors that it would report a loss of $802 million for the fourth quarter.
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