Mid-America Agri Products goes bankrupt
Mid-America Agri Products, the owner of a 44 million gallon per year bioethanol plant, has filed for Chapter 11 bankruptcy, citing unfavourable conditions in the bioethanol market.
The plant had been operating at full capacity for less than a year.
The plant closed in January, originally planning to reopen, but it has now laid its workers.
City officials are hoping bioethanol production will restart at the plant under new ownership.
The company lists $80 million (€56 million) in assets and $66 million (€46 million) in liabilities.
The plant had been operating at full capacity for less than a year.
The plant closed in January, originally planning to reopen, but it has now laid its workers.
City officials are hoping bioethanol production will restart at the plant under new ownership.
The company lists $80 million (€56 million) in assets and $66 million (€46 million) in liabilities.
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