Hemp Processing Company Atalo Holdings Files For Bankruptcy
Atalo Holdings, an industrial hemp processing company based in Winchester, Kentucky, has filed for Chapter 7 bankruptcy. A failed capital commitment left the company unable to pay its creditors, according to Atalo CEO Bill Hilliard.
Hilliard also cited “confounding guidance’ from regulatory agencies, unforeseen market forces and other challenges,” the Lexington Herald Leader reports.
Atalo is the third Kentucky-based hemp company to file for bankruptcy in 2020. Sunstrand, which specialized in using hemp fiber in a variety of materials, and GenCanna Global, a hemp processor, also filed for bankruptcy this year.