City Takes Steps to Help Facilitate Possible Sale of Pure Prairie Poultry in Charles City
A sale of Pure Prairie Poultry (PPP) in Charles City is possibly in the works.
It was almost a year ago (Oct. 3, 2024) that the chicken processing plant went bankrupt and ceased operations, owing creditors between $100 million and $500 million combined.
In June, a Minnesota judge approved the sale of the plant and “certain acquired assets” to Community Bank and Trust and former PPP board member Michael Helgeson. The property is now in court-appointed receivership in Minnesota and an ancillary receivership in Iowa, with Lighthouse Management Group now tasked with managing the assets of Pure Prairie Farms, including the plant in Charles City.
During Monday (09.15) night’s City Council meeting, Mayor Dean Andrews said Lighthouse has asked the City for a reduction in PPP’s unpaid utility bill of over $625,000, which mostly covers water and sewer expenses.
City Attorney Brad Sloter noted that the receivership would have until December 31st to pay the revised amount of about $540,000.
Councilwoman Phoebe Pittman is on board with reducing the bill if it can move a sale of PPP forward.
Sloter said the City was also approached about transferring the lease of the section of North Main Street (closed off to enable PPP to expand the plant) to the receiver, which could also help sell the plant. Terms of the street lease called for payment of $22,000 in 2022, 2023, and 2024, with a final “option to purchase” payment of $34,000 due this November.
The Council unanimously approved both proposals.
