Bo Pilgrim is not looking for chicken feed.
Although turkey is the bird of today the nation’s largest chicken processor is giving thanks to lenders for once again keeping them out of bankruptcy court.
Pittsburg, Texas-based Pilgrim’s Pride reached an agreement with lenders “to extend the temporary waiver under its credit facilities through noon (CT) on December 1, 2008,” according to a company news release. Pilgrims operates numerous facilities from eastern Texas throughout the south as well as in Mexico, where it is that country’s 2nd largest chicken producer. Viva pollo!
The credit extension is the third Pilgrim’s has been granted in recent months. Among its problems is debt, the high cost of chicken feed and a rather fowl glut. Yuk, yuk.
Company Sr.board chairman Lonnie “Bo” Pilgrim became well-known throughout Texas for his TV commercials where he delivered his deadpan drawl and dressed in a pilgrim’s get up while hawking his chickens. His most well-known line on the commercials was undoubtedly: “I just won’t sell a fat, yellow chicken.” Pilgrim later became even better known for handing out $10,000 checks to Texas legislators inside the State Capitol.
It makes one wonder now, given the company’s financial woes, if Pilgrim didn’t wish he would have hung on to those checks.