Community investors in Pierce are trying to re-open the local grain elevator.
John Fecht, the grain division director for the Nebraska Public Service Commission, says the elevator’s grain license was surrendered a couple of weeks ago due to financial problems.
“They’ve got a lot of checks that have been issued and weren’t able to get cashed because the bank wouldn’t honor them anymore,” Fecht says. “Some folks have delivered grain and haven’t been paid at all. There’s a lot of contracts on the books for delivery this spring and folks are wondering where to go with those.”
Fecht says if the commission has to move ahead with the claims process, then affidavits will be mailed out to everyone and plans will then be made to get the grain sold and moved.
Brian Bargstadt, president of the Pierce County Elevator, says he’s working with local investors and hopes to submit a plan to the Public Service Commission today.
“I’ve been in the community 17 years,” Bargstadt says. “Not only are they my customers, they’re my personal friends that this involves. I’m not the type of person to fail and I want everybody involved to get what they’ve got coming.”
Bargstadt says he’s pleased at the backers coming forward.
“Support has been overwhelming,” he says. “People do not want me to fail. It’s grown to be a family down here in the area of northeast Nebraska, farmers here.”
Bargstadt surrendered his grain licenses March 4th.
By Jerry Oster, WNAX, Yankton