LIVONIA, Mich. (WXYZ) - Awrey's Bakery reopened Monday, following last month's last minute deal that saved the Detroit institution from the auction block.
Rabin Worldwide canceled the auction after Jim McColgan of Minnie Marie Bakers bought the company.
Awrey's was founded in 1910 in Detroit and grew to become one of the largest privately-owned bakeries in the U.S.
It was well-known for its pastries and breads, but ran into financial trouble in 2012.
Last fall, the company notified the State of Michigan that it would have to layoff nearly 200 workers if it could not find a buyer. Most of the layoffs were supposed to take effect in late January 2013. The rest were scheduled to take place in early February.
Copyright 2013 Scripps Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
50 CENT has landed a new business partner in basketball star CARMELO ANTHONY after the sportsman became an investor in the rap mogul's headphone company.
RIHANNA has followed in the footsteps of superstar BEYONCE and recorded a duet with Colombian beauty SHAKIRA.