Cordes & Company

Hog producer in trouble in Minnesota

A farrow-to-finish commercial hog business had cash flow problems and defaulted on debt, which was primarily collateralized by the hog inventory.  The Minnesota-based business was a large operation, with 30,000 breeding sows and 166,000 wean-to-finish hogs at approximately 20 different locations in five states.  During the forbearance period, Cordes & Company was engaged by the lender to assess business operations and to inspect, assess and improve financial and other information – and its flow to the bank.  We went on-site to inspect, review, analyze and provide guidance on the financial reporting and analysis processes.  We visited all significant facilities and developed detailed financial projections of future operating results along with an assessment of business operations and facilities.  On the basis of our results, the business was placed into receivership.  Cordes & Company acted as industry expert providing advice and guidance to the receiver during the successful liquidation of the animals and wind down of all operations.

Colorado
5299 DTC Boulevard
Suite 600
Greenwood Village, CO 80111
Telephone: 303.721.8755
Minnesota
2677 N. Innsbruck Drive
Suite A
New Brighton, MN 55112
Telephone: 612.455.6027
California
2030 Main Street
Suite 1600
Irvine, CA 92614
Telephone: 949.379.1202
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