February 12, 2018 / 3:48 PM / 6 months ago

German grain trading house Mackprang says applies for insolvency

HAMBURG, Feb 12 (Reuters) - German grain trading house Mackprang has applied for insolvency proceedings, its chief executive said on Monday.

Work will continue while a provisional administrator holds talks with creditors, said chief executive Jens Kass.

The company and its shareholders had been unable to reach agreement on financing with banks, he said.

The Hamburg-based company was founded 139 years ago and is involved in trading of milling and feed grains, malting barley, and feed meals such as rapeseed meal and soymeal, the company’s website says.

The company’s main shareholder is German trading house Bohnhorst. (Reporting by Michael Hogan, editing by Adrian Croft)

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