KINGSPORT, TN (WJHL) – An attorney for Pure Foods said there is a purchase agreement in place for someone to buy the company’s assets in Kingsport.
“We have someone that is wanting to buy it,” attorney Bill Norton said.
News of a possible sale comes just weeks after Pure Foods filed for Chapter 11 bankruptcy.
Norton said the company is hopeful others will put in bids in the coming days. If that occurs, he says there will be an auction a week from Thursday to sell the company’s assets to the highest bidder.
The specialty snack food maker estimates it owes between $1 million and $10 million to more than 100 creditors, according to court records.
The company’s world headquarters in Kingsport originally expected to create more than 270 jobs.
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