Retail meat company Moo and Oink has officially closed its Austin store, along with a second store on the South Side, in an effort to conserve costs, an attorney overseeing the company’s transition said.
Bruce de’Medici, who represents turn-around firm Silverman Group, took over Moo and Oink, whose main headquarters are on the South Side.
The two stores, located at 4848 W. Madison in the Austin community and 8201 S. Racine, closed late last week, forcing layoffs of some employees. The rest were absorbed into Moo & Oink’s remaining two stores located at 7158 S. Stony Island and one in south suburban Hazel Crest.
de’Medici said the stores were closed to conserve cost “while preserving the opportunity to sale.” He added talks with potential buyers are still ongoing. “We are hoping to complete a sale that would put people back to work,” de’Medici said.
Silverman Consulting is a business management firm that was appointed to work on behalf of Moo & Oinks creditors. The financially-troubled company has been losing money since 2009.
Silverman Consulting sent a letter on Aug 2, to Moo & Oink’s creditors, stating that the company was seeking a buyer and would be liquidated if one could not be found. Potential last minute buyers emerged in late August, saving Moo & Oink from an Aug. 29, auction block date.
La Risa Lynch