LIVONIA, Mich. (WXYZ) - 7 Action News has learned about a last-minute deal to save Awrey's Bakery from being sold off piece by piece.
An auction was scheduled to take place Wednesday. But late Tuesday, the company organizing the event, Rabin Worldwide, said the auction had been canceled.
At the very last minute, as the local bakery was about to be auctioned off, Jim McColgan of Minnie Marie Bakers came in with a deal.
The Grand Rapids businessman with a background in food distribution and baking bought the company's assets.
As a result he says you will be able to keep buying your favorite Awery's treat – and everyone has a favorite.
"We were notified of a last-minute purchase offer submitted directly to Awrey, which caught us all by surprise," said Richard Reese, President/CEO of Rabin Worldwide.
Reese went on to say that Minnie Marie Bakers had purchased Awrey's assets and will take over operations at the Livonia facility.
"Ultimately, the sale is in the best interest of our client and certainly gives hope for the community of Livonia, Michigan," said Shira Weissman , General Counsel of Rabin.
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.
Two-hundred Awrey's employess will be able to keep their jobs as a result of the purchase.