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VOL. 126 | NO. 235 | Friday, December 02, 2011

Bankrupt Yarnell's Assets Sold at Searcy Auction

AP

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SEARCY, Ark. (AP) – Major assets of bankrupt Yarnell's Ice Cream Co. of Searcy have been sold for $1.3 million to a Chicago-based company that officials say plan to reopen the plant.

Shulze and Burch Biscuit Co. purchased some Yarnell's equipment and its real estate during a bankruptcy auction Wednesday. Shulze and Burch has a toaster-pastry and granola bar business in Searcy.

Searcy Regional Chamber of Commerce President Buck Layne told the Arkansas Democrat-Gazette that Shulze and Burch plans to reopen Yarnell's.

Some Yarnell's recipes were sold for $2,500 to David Davison who said he hopes to resell them for profit. Yarnell's "Guilt-Free" line was bought by former employee Jeff Holtz who told The Daily Citizen he hopes to restart the line.

Yarnell's filed for bankruptcy in August after shutting down operations in June.

Copyright 2011 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 98 376 10,434
MORTGAGES 124 449 13,881
FORECLOSURE NOTICES 14 56 2,766
BUILDING PERMITS 196 798 23,420
BANKRUPTCIES 68 264 8,803
BUSINESS LICENSES 24 77 3,613
UTILITY CONNECTIONS 251 637 13,380
MARRIAGE LICENSES 21 93 3,117

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