Another Kentucky hemp company is filing for federal bankrupticy protection, this time Elemental Pricessing in Lexington.
The toll processor noted debts of some $56.7 million in its Chapter 11 filing on Monday. The debts include $100,000 in unpaid rent for its Lexington facility.
Elemental Processing listed assets between $1 million and $10 million.
The company licensed with thousands of farmers and then sold bulk cannabinoid extracts, some of it back to the farmers.
Subscribe to our Newsletter
Written By hempindustrydaily