Bids for Yarnell's Ice Cream Recipes Turned Down

AP

SEARCY, Ark. (AP) – The apparent winning bids for the recipes of bankrupt Yarnell's Ice Cream Co. were turned down and awarded instead to a Chicago company as part of its overall bid for much of Yarnell's assets.

Schulze and Burch Biscuit Co. will receive the recipes as part of its $1.3 million bid during Wednesday's bankruptcy auction.

David Davison submitted the apparent top bid for the ice cream recipes and Jeff Holtz the apparent winning bid for Yarnell's "Guilt Free" line.

Davison says he's upset while Holtz says he was surprised – but that he understood the bid was not a final sale.

Search Chamber of Commerce president Buck Layne says Schultze and Burch plans to reopen the Yarnell's plant that was closed in June.

Schultze and Burch officials have not commented.

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