A Portsmouth, Iowa, grain and feed company has filed for bankruptcy, possibly leaving dozens of creditors with millions of dollars in losses.

G&R Feed and Grain Co. filed for Chapter 7 bankruptcy Monday in federal court.

Court documents filed by the company list about 60 creditors, mostly individuals in Shelby County.

The company's estimated debt is between $1 million and $10 million. Its estimated assets are up to $50,000.

Court documents list the president of the company as Craig Rau.

A meeting of creditors is scheduled for 1 p.m. Feb. 19 in the Federal Building in Council Bluffs.

Among the listed creditors is Cargill Inc. of Blair, Neb.

Roseann Moring

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