On the heels of an announcement that American LaFrance's parent company wants to buy Protected Vehicles, the financially troubled company will hold an auction of its assets August 21. A judge approved the auction Thursday.
From the Charleston Regional Business Journal:
On Thursday, a bankruptcy judge approved the terms of an auction of PVI’s assets. Patriarch Partners, which owns American LaFrance, had agreed to buy PVI for $5 million, but that agreement is subject to better offers at the auction. After the auction, the judge will hold a hearing to determine whether to approve the sale.
The auction will be held August 21 at 10 a.m. at the Mills House hotel in downtown Charleston:
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After the auction, at 2 p.m., a court hearing will be held to see if Patriarch Partners' $5 million bid will go through. That hearing will be held a block away at U.S. Bankruptcy Court, 145 King St., Room 225.
