Pilgram's Pride Declares Bankruptcy

Pilgrim's Pride is the country's largest chicken company. But they're a billion dollars in debt. Now, the industry giant and major Arklamiss employer announcing it's bankrupt.

Pilgrim's pride employs thousands of workers at it's Farmerville and El Dorado locations. But workers and surrounding businesses say they've been feeling the effects of the company's financial troubles long before this bankruptcy announcement. in a somewhat expected announcement -- Pilgrim's Pride has announcing it's bankrupt around 11 am today.

At this time -- the company says there's no plans of shutting down or major layoffs at it's 46 locations. But workers at the Pilgrim's Pride Farmerville location say the layoffs have begun as well as job consolidation.