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The Iowa Department of Agriculture and Land Stewardship has been notified that Global Processing, based at 945 150th Street in Kanawha, IA, filed for Chapter 11 bankruptcy in the State of Iowa effective October 24, 2022.
A business based in Kanawha that has processed organic soybeans is filing for bankruptcy. Two and a half weeks ago, the Iowa Department of Agriculture
Global Processing Inc., based in Kanawha, Iowa, filed for bankruptcy on Monday in the U.S. District Court for Northern Iowa. The filing comes weeks after the company had its grain licenses suspended in Iowa and surrendered its grain dealer license in Nebraska.
Global Processing Inc. is the second grain business to run into financial trouble this year.
Company owes tens of millions of dollars to over 100 creditors.