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Pacific Ethanol files for bankruptcy in Burley, Idaho

May 21, 2009 /

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The price of gas is going up, just not enough to make people want to put corn in their cars.

Monday, Pacific Ethanol, Inc. filed for Chapter 11 bankruptcy. The Burley plant has been closed since January. The company had consistently insisted that it’s a temporary shutdown and that the plant will reopen when market conditions improve, rehiring the 24 people it laid off at the beginning of the year.

That’s still the plan. Paul Koehler, company vice president, declined to comment beyond referring to a press release that suggests the company will continue.

By Damon Hunzeker
Times-News writer

Full Story: http://www.magicvalley.com/articles/2009/05/21/news/top_story/162387.txt

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