Omaha-based Hansen-Mueller Co. has filed for Chapter 11 bankruptcy, following weeks of complaints from farmers who say they were not paid for grain deliveries. Court documents list 1,000 to 5,000 creditors and between $100 million and $500 million in both assets and liabilities.
The company has begun a court-supervised Section 363 sale, aiming to sell most of its assets while continuing operations as a debtor in possession. CEO Josh Hansen said this approach is intended to maximize value for creditors, employees, and stakeholders. The company says it plans to keep operating normally and meet obligations to employees and key suppliers going forward.
A list of 20 large unsecured creditors shows significant unpaid balances and multiple co-ops and grain businesses each owed around $1 million. The filing also includes 89 pages of additional creditors, including farms, state revenue departments, and major agribusinesses.
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