Gateway Ethanol LLC has sought Chapter 11 protection, the latest in a string of regional ethanol producers to shut down or declare bankruptcy.
Gateway, of Pratt, Kan., did not provide a complete listing of creditors in its abbreviated filing, but it checked off the box estimating its liabilities at between $50 million and $100 million.
The bankruptcy filing, made Sunday, was not unexpected. In May, Minneapolis-based Dougherty Funding LLC, which financed construction of Gateway’s 55 million-gallon ethanol plant with a $54.3 million loan, moved to foreclose on the facility.
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