Hoku Files Chapter 7 Bankruptcy
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(POCATELLO, ID) – The Hoku Corporation has filed for Chapter 7 bankruptcy. The company, which constructed a $700 million polysilicon plant in Pocatello, now has estimated debts in excess of $1 billion. The plant, which was supposed to supply jobs to hundreds of Gate City residents, never went into operation last year because of financial concerns. City officials still hope to use the property to lure in other industrial developers.