F&S Oil biodiesel plant to be auctioned despite no ’stalking horse’ bidder

In Connecticut, the receiver for the closed F&S Oil biodiesel plant in Cheshire reports that an auction of the plant and equipment will proceed today despite the withdrawal of the only known bidder. An undisclosed $1 million stalking horse bid had been received, but the buyer backed out yesterday after requesting a 3-week delay in the auction to consolidate its capital position. The minimum bid for the plant is $1 million; F&S Oil invested more than $4 million to develop the plant.

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