A food manufacturer that once promised to hire 1,000 workers is trying to sell its Cambridge City facility.
RCF Kitchens Indiana LLC, known as Really Cool Foods, had 131 workers when it closed its doors in November. Last week, the company filed Chapter 11 bankruptcy in Indianapolis, and it wants to sell the building to help pay its creditors.
Sugar Creek Packing Co., an Ohio-based food manufacturer that makes bacon and other products, has offered to buy the building for $13 million, according to court documents.
But before the sale can go through, Really Cool Foods must allow other prospective buyers to bid through an auction. If another buyer is chosen, the company must pay Sugar Creek a fee called a "break-up" fee.
Attorney Jeff Hokanson of Frost Brown Todd LLC in Cincinnati, who represents Really Cool Foods, said in his court filing that the company wants the sale to be complete by Oct. 20 at the latest. The sale must happen as soon as possible to avoid losing Sugar Creek's offer, he said in the filing.
"The timing of the sale is critical," he wrote.
Really Cool Foods opened its Cambridge City facility in 2008, where it produced organic, pre-packaged microwave meals. The company invested about $24 million in building the 78,000-square-foot plant in the Gateway Industrial Park. About 75 people were employed there initially, and company officials said they expected that number to grow to 1,000 workers.
When it opened, it was lauded by state and local officials, including Gov. Mitch Daniels, as a big step for Indiana's economy.
"It's one of the coolest things that's happened in Indiana and one that we look forward to watching blossom and grow in years ahead," Daniels said at the company's ribbon-cutting ceremony.
Instead, the business struggled. Last year, the company searched for a buyer or lenders to help it keep operating. But when no one was found, the business closed, and its 131 employees were laid off.
At that time, company President Steve West said in a press release that increasing costs and delays in sales forced the business to close.
The plant has sat idle ever since.
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