Excel Dairy Farm Files For BankruptcyMore trouble for the Excel Dairy farm near Thief River Falls. Millions in debt, the farm has filled for reorganization under Chapter 11 bankruptcy laws.
By: David Schwab, WDAZ
Cows were removed last year from the Excel Dairy Farm near Thief River Falls as the dairy tried to improve the lagoons. But the cows have yet to come home. The dairy farm has yet to meet requirement of it's latest permit.
Howard Pearson / Marshall County Feedlot Manager: PCA has already notified them they they need do not intend to renew that permit. So after the 29th of April there will be no permit. This month the troubles of the dairy would become a little more visible as it filed for chapter 11 bankruptcy.
Howard Pearson: "Well they have no cows in there right now so you can't generate any income. And they owe money and the creditors are not getting paid. So you have to find money and find protection some where until you can turn this around."
And it could be a while before the dairy can turn things around. Many of the past permit issues remain tied up in court, and there is still work that needs to be done before they could apply for a new permit.
Howard Pearson: So they are going to have to make an application for a new permit. And that is going to take quite a bit of time. Plus I'm sure they will have to make the improvements to facilitate that were required under the old permit. So that will take some time.
In light of Excel Dairy's latest financial problems it might be hard to guess what's next.
Howard Pearson : I wouldn't want to speculate that going to be. But it's not looking good.