Bionol Clearfield files for bankrupcy, heads for liquidation block

In Pennsylvania, Bionol Clearfield filed for bankruptcy and is now looking for a buyer for its ethanol plant in Clearfield.

Bionol Clearfield filed for Chapter 7 liquidation bankruptcy to liquidate its assets, which are listed between $50-$100 million with liabilities of $100-$500 million.

The plant began having difficulties just months after opening in December 2009. In July 2010, the company announced that its biggest customer, Getty Oil/Lukoil had defaulted on its five-year contract to purchase nearly all of the plant’s ethanol output.