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southern MN | Typically the coops merge before this. Bigger coop wants the workers and the territory. Usually not the facilities unless they are in good shape or strategic location.
Had one here close up like that a few years ago. Two neighboring coops looked things over and one took them over, it saved pre purchase and warehouse contracts and delivery contracts.
We could kind of see it coming so a lot of customers were current on any of that….. be a bad deal if you aren’t.
If they haven’t merged and are this close to closed, I don’t see them coming back. Could be sort of saved if another coop buys up the carcass. Ends up if the lien holders are better off accepting a buy out offer or better off just foreclosing and selling off what assets remain.
Paul | |
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Lost our Co-op
