Wisconsin’s Renew Energy files Chapter 11; three more Wisconsin plants to file within 60 days, says report

In Wisconsin, the owners of the 130 Mgy Renew Energy corn ethanol plant in Jefferson have filed for Chapter 11 bankruptcy, according to a report in Wisconsin Ag Connection. Management indicated that the filing stemmed from a refusal by the company’s lenders to renew an operating loan, as well as low ethanol prices. The chairman of Renew predicted that three other ethanol plants in Wisconsin would file for bankruptcy by March, out of a total of nine producers in the state. The company said that it would continue production while it restructured its finances.

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