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Associated Press, Published June 26 2012

Members of ND co-op grain elevators vote to liquidate

WASHBURN, N.D. — Members of financially troubled cooperative grain elevators in the North Dakota towns of Falkirk and Hazen have voted to sell them.

The Bismarck Tribune reports that members of the Washburn-based Falkirk Farmers Elevator voted 88-1 on Monday to liquidate the elevators. The sale is scheduled for Saturday.

Falkirk Farmers is trying to cover $6 million in bank loans and operating debt and $3.4 million owed to farmers and vendors who prepaid for seed and fertilizer they never received.

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Information from: Bismarck Tribune, http://www.bismarcktribune.com

Copyright 2012 The Associated Press.