PIERRE - South Dakota regulators have revoked the operating licenses of a grain elevator in Gregory.

The Public Utilities Commission in late March suspended the grain-buyer and grain-warehouse licenses of the Gregory Farmers Elevator. The business was given 15 days to appeal or present a plan to address financial problems.

Commission Vice Chairman Chris Nelson tells The Daily Republic newspaper that didn't happen. He also says the elevator still owes $307,000 to two farmers.

Nelson says the elevator's board of directors has been trying to sell the business, and those efforts will continue. Commission Chairman Gary Hanson says the group hopes someone will buy the elevator and reopen it.

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