Final deadline set in Pierce Elevator Inc. shutdown - KTIV News 4 Sioux City IA: News, Weather and Sports

Final deadline set in Pierce Elevator Inc. shutdown


The Nebraska Public Services Commission has given Pierce Elevator Inc. until the end of the week to come up with funding needed to keep control of the business.

Commission officials met with elevator president Brian Bargstad and his legal team in Randolph today to discuss the current liabilities facing the company.

Company attorney Lance Carlson asked for one more extension. He says they have a meeting this week with a major investor who plans to make a decision on whether to fund the operation.

Commission officials say they will wait until the end of the week, but in the meantime Elevator officials need to answer to their clients who have current contracts with the company. John Fecht, NPSC Director of Grain said, "Theses people need to be able to make decisions on the marketing of their grain. I would not tell folks to wait any longer. If they want to call Brian and get out of those contracts that he would need to highly consider letting them do that under the circumstances that we are under."

Fecht adds the clients have waited for over two weeks and it is not fair to make them wait any longer.

The company has elevators in Pierce, Randolph and Foster.

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