USA Biomass Corp., a waste processor that has contracts with Waste Management Inc. and Allied Waste Industries Inc., filed for Chapter 11 bankruptcy protection, saying it does not have enough cash. The Bell Gardens company said it filed voluntary petitions in U.S. Bankruptcy Court in Los Angeles. The company was not available for comment. USA Biomass in 1998 changed its name from AMCOR Capital Corp., which was one of the largest producers and shippers of table grapes in the U.S. as well as a real estate company. USA Biomass’ shares closed off 38 cents at 56 cents on Nasdaq.
Waste Processor Files for Bankruptcy