The US company has put forward a proposal to sell all its major assets and subsidiaries except for its Oklahoma operation to Maschhoffs LLC for $79 million according to the bankruptcy papers.

The company is also seeking buyers for its Chinese subsidiaries and assets according to the bankruptcy document, as well as its sow farm in Oklahoma.

AgFeed was a supplier to the US processor Hormel, with whom it had a dispute and the business relationship between the two has since been wound down.