Wolfgang bankruptcy sale closing delayed

September 04. 2012 9:15AM

Brent Burkey

The court-approved sale of assets of York County-based Wolfgang Candy Co. Inc. has been delayed as the sides continue to work out details related to the transaction, according to the attorney representing Wolfgang in bankruptcy proceedings.

The North York-based confectioner filed for Chapter 11 bankruptcy protection in March and a judge in August approved a plan for a sale of company assets and a lease agreement for Wolfgang real property.

There was some initial expectation the deal with Alabama-based Divine Serendipity LLC would close quickly after the court approval, but it did not.

The sides now anticipate the settlement will happen some time this month, said Larry Young of York-based CGA Law Firm.

Employees continue to get paid, though there had been a payroll delay earlier in August, Young said.

 


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