Anoher Kentucky hemp producer is seeking bankruptcy protection.
Atalo Holdings cited “confounding guidance” from regulators and “unforeseen market forces” in announcing the Chapter 7 filing late Friday.
Atalo chairman Andrew Graves said in a statement that the company hopes to continuer operating while bankruptcy proceeeds.
Graves called his company “an attractive opportunity for a timely new investor seeking revenue-producing assets.”
The company listed between 100 and 199 creditors and assets between $10 million and $50 million. Atalo is privately held.
Atalo’s bankruptcy comes several weeks after another large Kentucky hemp producer, GenCanna Global, filed for Chapter 11 bankruptcy protection.
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