A Ukrainian billionaire who bought assets of the venerable Delaware poultry firm Townsends Inc. out of bankruptcy in February has decided to retreat, closing the business and laying off more than 1,000 people, including about 40 in Delaware. Omtron USA, owned by billionaire Oleg Bakhmatyuk, told North Carolina officials Friday that it would close plants in Siler City and Mocksville, where about 1,000 people have been working, reports The News Journal. Closings are expected by October. David Purtle, who was hired as chief executive to run Omtron after the February purchase, said he was surprised by Bakhmatyuk's decision to leave the business. He said the company has made about $7 million in upgrades to the North Carolina facilities since the bankruptcy sale. "They just weren't real crazy about the business environment so they just decided to take their losses," said Purtle, who ran the business from his Atlanta-area home. Purtle said he never met Bakhmatyuk and dealt only with representatives.

Source: The News Journal