Farm bankruptcies
10:03 am
Tue March 19, 2013

Decatur farm bankruptcy serves as warning about rising prices

A new report calls the bankruptcy of Stamp Farms in Decatur (Mlive Kalamazoo story) a warning about rising prices for farmland and rising debt. 

Blueberry farm in Saugatuck Township - file photo
Blueberry farm in Saugatuck Township - file photo
Credit The Associated Press

The New York Times describes the bankruptcy of Stamp Farms as "one of the heartland's most talked about bankruptcies in years." 

From the Times story:

In less than a decade, Michael D. Stamp, 37, built his farm into a huge operation growing corn and soybeans. In November, he was hailed as a savvy farming entrepreneur on the cover of Top Producer, an agricultural magazine, and was one of three national finalists in its annual contest.

Later in November Stamp Farms filed for bankruptcy. 

Mlive Kalamazoo has more on the bankruptcy of Stamp Farms, including fears of farmers and creditors owed money by the Decatur-based farm.