Candy plant buyer found
Published 12:00 am Sunday, September 22, 2002
Like the death row inmate whose execution is stayed by a last-minute pardon from the governor, American Candy operations here in Selma may have been given at least a partial reprieve.
The company had filed for chapter 11 bankruptcy before a federal judge in Mobile. Thursday, the judge approved the sale of part of the company’s assets to a Canadian company with operations here in the United States.
Williams said that proceeds from the sale totaled roughly $3 million, which will go toward satisfying American Candy’s creditors.
While no final decision has been made, Williams said Concord had indicated that it plans to continue operation of the wax division here in Selma. Selma Mayor James Perkins Jr. said he remains hopeful that those operations &045;&045; and the jobs associated with them &045;&045; will remain here.
American Candy employed approximately 250 people at the time it filed for bankruptcy.
Williams said that the search for a prospective buyer for the rest of the company’s assets continues. He said no final date for the sale of those assets has been set at this time.