PIXABAY
The Ohio Department of Agriculture (ODA) found Evergreen Grain Co. in Clyde, OH, insolvent after discovering it was unable to cover its outstanding obligations to farmers, reports Ohio's Country Journal.
Evergreen Grain was suspended on May 13, 2021 to prevent additional outstanding obligations and to facilitate a remedy through the Grain Indemnity Fund.
ODA was alerted to potential financial problems at Evergreen by a farmer who was having trouble collecting payment for deposited grain in March. This prompted an investigation by ODA grain auditors, which found a $1.3 million financial shortfall.