Asset sale falls short of Great Western's hopes.(Great Western Chemical)(Brief Article)(Statistical Data Included)

Longtime Portland business Great Western Chemical is finding difficulty generating much value for the assets of the now-bankrupt company.

In a deal expected to close Aug. 29, Great Western Chemical will sell off much of its remaining assets in the United States for less than $100,000 cash up front.

Although royalties potentially could boost the deal, it is not what the 45-year-old company which sought Chapter 11 bankruptcy protection in July initially expected. And it isn't likely to provide a windfall for creditors who are owed a total of $48 million.

Officials however, said selling the business to East Coast distributor Quadra Chemicals Inc., is …