Texas-based producer White Energy also filed for bankruptcy protection this month, citing "minimal or non-existent profit margins" and an inability to raise fresh capital from frozen equity markets to pay off debts. White Energy halted production at its 100-million-gallon-per-year ethanol plant in Plainview in January, but continued production at its other Texas and Kansas plants.
Pacific Ethanol files for Chapter 11 protection
Pacific Ethanol this week joined a growing list of US biofuel companies that have filed for Chapter 11 bankruptcy protection in an effort to restructure debt as they struggle to survive the worst economic downturn in decades.
21 May 2009 22:00 GMT
Updated
25 November 2012 9:34 GMT
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