Portales peanut plant up for auction

PORTALES, N.M. (KRQE) – Sunland Inc. the peanut butter processing plant in Portales that went bankrupt after a salmonella outbreak could soon be auctioned off to the highest bidder.

The bidding starts at $18.5 million, that is how much a California company offered for Sunland a few months ago.

Last fall the company’s attorneys valued Sunland’s assets at $50 million but it still owes three of its major creditors about $14 million.

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