Plans to liquidate Rath are moving forward.

The remainder of Rath Packing’s assets will be auctioned off this fall if a buyer for the Waterloo, Iowa, meatpacker is not found by July, according to a company lawyer. After a hearing in U.S. Bankruptcy Court, attorney Ron Peterson said Rath still has the option of selling the company even though the wheels are in motion for the firm’s liquidation. “We have not given up hopes of reorganizing the debtor,” he said. “If we can come up with a plan of reorganization, that picture (liquidation) will certainly change.”