Union files objection to sale of Archway (cookies bankrupt)

[Omaha Steve]

http://www.mansfieldnewsjournal.com/article/20081129/NEWS01/81128025

By LINDA MARTZ • News Journal • November 29, 2008

ASHLAND — The expected sale of Archway Cookies will be a day later than announced.

The auction of the bankrupt company’s assets was rescheduled for 10 a.m. Tuesday at Duane Morris LLP in New York.

The hearing in U.S. Bankruptcy Court on approval of the sale also was pushed back a day. Judge Christopher Sontchi will preside over that hearing at 4 p.m. Wednesday in Delaware.

Archway Cookies and Mother’s Cake and Cookie Co. filed for bankruptcy Oct. 6, terminating most of the companies' employees, including 278 workers in Ashland. That plant was closed Oct. 3.

A North Carolina company, Lance Inc., a snack food manufacturer, is expected to enter a bid Tuesday to buy Archway through its subsidiaries, Archer Acquisitions and Madre Capital.

On Nov. 26, the International Brotherhood of Teamsters filed an objection to the sale of Archway’s assets under the proposed terms.


FULL story at link.

[Fovea]

1. I wonder if they will retain the brand name?

Lance is a fairly well known brand on its own.

[leftofthedial]

2. bummer. they used to make really good molasses cookies