VOL. 126 | NO. 235 | Friday, December 02, 2011
Bankrupt Yarnell's Assets Sold at Searcy Auction
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.
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