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VOL. 126 | NO. 235 | Friday, December 2, 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 This material may not be published, broadcast, rewritten or redistributed.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 86 393 21,159
MORTGAGES 94 424 24,785
FORECLOSURE NOTICES 0 93 8,703
BUILDING PERMITS 173 1,010 43,347
BANKRUPTCIES 52 292 14,194
BUSINESS LICENSES 15 90 6,491
UTILITY CONNECTIONS 28 167 13,678
MARRIAGE LICENSES 12 89 5,158

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