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.