Meadowbrook Farms Cooperative last week officially filed Chapter 7 bankruptcy proceedings in the U.S. Bankruptcy Court in the Southern District of Illinois.

The Rantoul, Ill.-based producer-owned pork processing cooperative had been holding out as it sought last-minute financing to the keep the cash-strapped business afloat. No assets were reported.

A meeting of creditors is slated for May 29 in East St. Louis.