The Illinois Department of Agriculture revoked the license of a financially troubled Ford County grain dealer.
Wednesday’s action resulted in the license of SGI Agri-Marketing LLC, a specialty grain dealer in Gibson City, being revoked following an administrative hearing.
The Illinois Department of Agriculture discovered deficiencies in the company’s financial statements.
The company has been ordered to stop doing any further business.
The Illinois Department of Agriculture has assumed control of the company, including its grain assets, and will begin the process of compensating claimants per the Illinois Grain Code. Anyone who has sold grain to the company and has not paid in full should contact the Illinois Department of Agriculture’s Bureau of Warehouses to file a claim.
The Illinois Department of Agriculture will hold an informational meeting to explain the liquidation and claims processes at 1 pm. Wednesday, November 16, at SGI Agri-Marketing LC in Gibson City. The meeting is open to anyone with a financial interest in the company, including farmers who may be potential claimants.