Martin's Abattoir & Wholesale Meats has suspended operations at its beef slaughterhouse in North Carolina, ending nearly six decades of business and putting 180 jobs at risk.
The company stated that the decision was taken due to a lack of affordable supplies of cattle and challenging environment in the slaughter industry.
Martin's Abattoir & Wholesale Meats operations director Jeffrey Martin said that the company plans to keep paying the laid-off employees for the next 60 days and the insurance would be extended through the end of the year.
In the prepared release, the company noted, "the Martins are suspending their beef operations just as they started them: on their own terms, quietly, with dignity . no cries for government bailouts; no complaints."
Since 1955, the Martin family has been one of the seven leading cattle processing facilities in the region.
A Midwest drought in 2012 has affected the market significantly and Martin noted the lack of supplies forced company's closure.
The US Agriculture Department said that some two million cattle were sold at market in August, which is 4% drop compared with last year and was the second lowest since 1996.
