(Portsmouth) A Shelby County grain and feed company has filed for bankruptcy.
According to Court documents G & R Feed and Grain of Portsmouth filed for Chapter 7 bankruptcy earlier this week, which could leave a laundry list of creditors with millions of dollars in losses. The list includes about 60-creditors, mostly individuals in Shelby County.
The company has an estimated debt between $1 million and $10 million, with an estimated $50,000 in assets.
The President of the Company is listed as Craig Rau.
A meeting of the creditors is scheduled for 1:00 p.m., February 19 in the federal building in Council Bluffs.
January 4, 2013