Another Kentucky hemp producer is seeking bankruptcy protection. Atalo Holdings cited “confounding guidance” from regulators and “unforeseen market forces” in announcing the Chapter 7... Another Kentucky hemp company files for bankruptcy

Another 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 continue operating while bankruptcy proceeds.

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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