SIOUX FALLS, S.D. (AP) The nation's second-ranked ethanol producer, VeraSun, started the year by announcing it would move its corporate headquarters to Sioux Falls.

It ends the year in U.S. Bankruptcy Court.

VeraSun Energy Corporation and 24 of its subsidiaries filed petitions for relief under Chapter 11 of the U.S. Bankruptcy Code in federal bankruptcy court in Delaware.

With margins already slim, the company was short of cash in the third quarter after locking in at higher-than-market Corn prices.

VeraSun also reported it received an unsolicited buyout offer but would not name the suitor.

The VeraSun story came in number 8 in Associated Press member voting for the top 10 South Dakota news stories of 2008.

By AP Writer Dennis Gale.

(Copyright 2008 by The Associated Press. All Rights Reserved.) APNP 12-28-08 1801CST | save this article / add to your favorites list