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APC Granted Receivership

Posted at: 04/16/2013 5:41 PM

 

(ABC 6 NEWS) --  An Austin business that's struggling financially -- and has laid off dozens of worker is looking to be sold.
 
In court Tuesday, Austin Packaging was granted receivership. That means a third party will now have 60 days to try and sell it.
 
In court, a possible buyer was talked about, but not named.  As we've reported, APC has millions in unsecured debt.
 
The company say it will remain open and operating during this 60 day period, and hopes to expand it's sauce business once being sold.