Ethanol plant closes in Minnesota

In Minnesota, the former Minnesota Energy ethanol plant in Buffalo Lake, bought last year from the farmer coop that started it by New York hedge fund Platinum Partners LLP and re-opened last year after being mothballed for 2.5 years, has again shut down and filed for Chapter 11 bankruptcy protection. Only 10 of the company’s 25 employees are still on the job and the company only has enough cash to operate a skeleton staff for a few weeks.