Ethanol plants operators file for Chapter 11
SOUTH BEND, Ind. -- Indiana's oldest ethanol plant could be on its way out. Friday, New Energy Corporation filed for Chapter 11 bankruptcy. The company owes as much as $100 million to its creditors and doesn’t have enough money to pay back that debt.
Some nearby residents are sad to see it go, while others will be happy because of the loud noises and nasty smells caused by the processes necessary to make ethanol.
"Well it makes me feel sad for the workers, and I thought it was a nice place. I live here in the area and I've been here 7 years, and I've never had any problems with the smell, and sometimes in the summer I walk that way and everything was nice and clean and in order,” said neighbor Catherine Washington.