Pierce Elevator Will Close for Good
PIERCE - The debt is too deep. The Pierce Elevator Company will close, for good. State Public Service Commission Grain Division Director John Fecht says Manager Brian Bargstad and a local group of investors couldn't come up with the $6 million dollars needed to pay the elevator's debt and keep it operating. Fecht says those farmers who still have contracts with the elevator need to make other marketing plans. He advises them to speak with Manager Brian Bargstad about that and to move forward. The Pierce Elevator had to give up its license last month when the debt began piling up. Investors met with the Public Service Commission late last week, and admitted they couldn't raise the money needed to pay off the debt.