CHARLES CHIPS POTATO CHIP AND PRETZEL PROCESSING FACILITIES IN PENNSYLVANIA AND KENTUCKY TO BE SOLD AT BANKRUPTCY AUCTION
MOUNTVILLE, Pa., Jan. 31 /PRNewswire/ -- Michael Fox Auctioneers, Inc., today announced the upcoming auction of the Charles Chips Potato Chip and Pretzel Processing Facilities located in Pennsylvania and Kentucky. The properties will be auctioned on Wednesday, Feb. 9, at 10 a.m. at the Charles Chips Pretzel Facility located at 900 Stony Battery Road in Mountville. The Kentucky property is located in Calhoun, approximately 60 miles south of Evansville, Ind. Nearly all assets including all processing equipment, real estate, tradenames, inventory, A/Rs and customer lists will be sold. The Pennsylvania property consists of a 105,000 +/- sq. ft. potato chip factory producing 5,100 +/- lbs./hr. and an adjacent 8-year-old 42,800 +/- sq. ft. pretzel factory producing 1,800 +/- lbs./hr. The Pennsylvania property, located on 242 +/- acres, contains a significant amount of excess acreage zoned commercial, light industrial and rural. The Pennsylvania facilities were operating as recently as November 1993. The Kentucky property consists of a 98,000 +/- sq. ft. potato chip factory on 21 +/- acres, producing 2,000 +/- lbs./hr. The sale is subject to bankruptcy court approval. Since its beginning in 1942, Charles Chips, one of the country's premier snack food companies, has offered a fresh, quality product. The company's "chip in a can" has won numerous awards including the 1987 Time Magazine potato chip taste test from among 65 companies. Charles Chips had as many as 125 distributors spread across 35 states. "This auction provides the perfect opportunity for established snack food processors, grocery chains, or entrepreneurs to purchase Turnkey -- Ready to Operate snack food processing facilities," commented David Fox, President of Michael Fox Auctioneers, Inc. "Charles Chips will provide any new owner with a trusted and respected name in the business." For the Pennsylvania property, inspections will be held on Tuesday, Feb. 8 from 10 a.m. to 3 p.m. or by appointment. Inspections for the Kentucky property will be held by appointment only. Michael Fox Auctioneers, Inc., one of the largest auction and asset recovery firms in the United States, was founded in 1946. Based in Baltimore, the company conducts approximately 100 auctions annually. /delval/ -0- 1/31/94 /CONTACT: Kirstie D. Durr for Michael Fox Auctioneers, 410-356-8822/
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