| 1 min read | by Lonnie Huhman, email@example.com |
The defunct Chelsea Grain Company is now up for sale, but as of yet there have been no takers.
At the same time, some farmers are still owed some money.
To help remedy some of the financial issues with those who worked with the grain company, the Michigan Department of Agriculture and Rural Development is now collecting those farmers’ claims.
Chelsea Grain closed earlier this year and began working with MDARD in the liquidation process.
Jeff Haarer of MDARD said that process has been completed and it went well, but it did not pay the farmers in whole. He said Chelsea Grain would like to sell the location to help cover the difference of what’s owed, but that sale has not happened yet.
Haarer said MDARD will be collecting the claims of the farmers in preparation of a meeting in June where they will be reviewed and potentially approved.
According to the website, Farmers National (farmersnational.com), the grain company is listed as 7.7+/- acres at 11800 Dexter-Chelsea Road and is offered at $850,000.
Under property information, the terms being offered are cash or new mortgage, and a 10 percent earnest money deposit is required with an offer to purchase, with the balance due at closing. Property use is described as a grain and feed storage complex with rail access and total storage capacity of approximately 1,095,000 bushel.
MDARD is putting out the notice of the failure of Chelsea Grain LLC to financially satisfy claimants on May 1, in its capacity as licensed grain dealer under the Grain Dealers Act. Those interested in more information on this are being asked to contact Haarer at 517-284-5642.