Peanut Corp Files for Bankruptcy

The Lynchburg, Va.-based Peanut Corp. of America filed for Chapter 7 bankruptcy in U.S. Bankruptcy Court in Virginia Friday. The company is at the center of a national salmonella outbreak. The Peanut Corp. Georgia plant was identified earlier this week as the source of the salmonella outbreak.

Earlier in the week, while being questioned about the outbreak before a House subcommittee, Peanut Corp. owner Stewart Parnell invoked his fifth amendment privileges repeatedly.

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