Start with this:
var lines = File.ReadAllLines("<your path/filename>");
var stringBags = lines.Select(l => l.Split('|'));
var objects = stringBags.Select(b => new {Id = b[0], Name = b[1], SomeOtherField = b[2]});
This gives you a way to parse the file, and to project it into some sort of object you can deal with
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solved How to Parse the txt file in c# [closed]