The liquidation process is underway at Montreal-based BioAmber.
In a news release Thursday, the company says following a court order issued July 31, it's soliciting offers from liquidators and/or strategic buyers with the goal of realizing the greatest value for its creditors.
There's an August 21 deadline for binding offers.
BioAmber filed for bankruptcy in May.
The company opened its first commercial-scale succinic acid plant in Sarnia in 2015, viewed locally as the flagship catalyst for this area's growing bioindustry.
The Vidal St. S plant, with an estimated workforce of 60, is shutting down.
Only a handful of workers will remain as operations are suspended pending the outcome of the liquidation process.
