Selma alternative fuel plant files for Chapter 11

Dixie Pellets filed for Chapter 11 bankruptcy earlier this week. The alternative fuel plant in Selma laid off employees earlier this month and cited more than $100 million in debts, according to the bankruptcy filing.

The plan is an affiliate of Harbert Management Corp., and the Harbert Power Fund III has an 86-percent ownership stake in the plant, according to the filings. The filings also reported that the plant had a loss of $14 million on sales.

If your company is burdened by debt and is considering filing for bankruptcy, contact the Birmingham bankruptcy attorney of Paula Greenway at 205-325-4000.

Leave a Reply

Your email address will not be published. Required fields are marked *