New Energy Corp. files bankruptcy

SOUTH BEND – New Energy Corp., which operates an ethanol plant on South Bend’s far south side, has filed for Chapter 11 bankruptcy.

New Energy opened in 1984 and has a capacity of 100 million gallons of ethanol a year. The plant has been for sale since 2011 and earlier this year announced the layoff of 40 employees. At peak employment, New Energy had 100 employees.

New Energy President Russ Abarr said the Chapter 11 filing could help speed the sale of the plant.

 

 

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