Comments on: Atmore Peanut Processor Coastal Growers Files Bankruptcy

By: Holding the bag

Holding the bag — Sun, 08 Dec 2024 05:04:53 +0000

Sadly, the farmers are not considered creditors in this bankruptcy filing. The farmers are considered owners of Coastal. The peanut farmers collectively lost tens of millions of dollars on Coastal. That money is lost. It’s gone. What’s more – the tens of millions the farmers lost when they delivered their peanuts to Coastal are not included in these bankruptcy filing numbers. The farmers, as owners of Coastal, were left holding the bag expecting a profit to equal, at the very least, the market value for their peanuts. That “profit” apparently never materialized. It is a massive blow to the peanut farming community that is not being accounted for.

By: bill

bill — Wed, 04 Dec 2024 05:38:22 +0000

If you grow Peanuts you get paid in Peanuts?

By: Responding to holding the bag and others

Responding to holding the bag and others — Wed, 04 Dec 2024 00:28:59 +0000

To respond. — yes many of those that are owed money ARE the farmers. Even the smallest of the farm investors have lost over 200,000!!!

By: Susie

Susie — Tue, 03 Dec 2024 14:57:03 +0000

The Boss gets the money and the employees get the shove. Sad.

By: Bah Humbug

Bah Humbug — Mon, 02 Dec 2024 19:57:11 +0000

follow the money – Q

By: Ratt

Ratt — Mon, 02 Dec 2024 18:10:00 +0000

Sounds American.

By: Joel Pate

Joel Pate — Sun, 01 Dec 2024 16:19:43 +0000

My family owns farmland previously used for my father’s cattle operation until he died in023 C R Pate. And we have planted crops for cattle feed in the past 50 yrs and are friends to lots of the investors in this scam. I am a business minded and business owner with my family and probably need to shut up but an HONEST investigation needs to find out how many people involved with handling this got kickback from construction, equipment purchases,,family liked scams and other shady deals because this should have worked for our farmers and the local community. I heard the CEO gave himself a $350.000 raise the first nonprofit year of operation Figure it out and hold them accountable!

By: CK

CK — Sat, 30 Nov 2024 23:50:55 +0000

What a waste of time and money! They did all that work installing that new railroad spur and never even used it. How much money did the city lose on this debacle?

Brown Precision in Rivercane is the same way. The place is all but abandoned.

By: RandallLucas

RandallLucas — Sat, 30 Nov 2024 21:34:06 +0000

Wow…lol..Who was the Manager of this Train wreck???

By: Holding the bag

Holding the bag — Sat, 30 Nov 2024 19:01:41 +0000

The numerous creditors mentioned in the article are most likely not the shareholder farmers. The problem is that Coastal is owned by shareholder peanut farmers who also deliver their peanuts to Coastal. As owners of Coastal they supposedly share profits, as suppliers of Coastal they get nothing. So, if there are no profits, then the shareholder farmers are set up to get nothing at all for the peanuts they deliver.