OUTAGAMIE COUNTY, WI (WTAQ) – The more than 600 employees of Appleton Coated will have to wait at least a few more days to learn the future of the company.
An Outagamie County judge has pushed a court hearing on Appleton Coated’s sale off until 2:30 pm Monday, citing the need to review the purchase agreement.
The maker of high-end commerical printing products filed for receivership last month, citing a lessening demand for its products in a digital age.
Appleton Coated was auctioned off earlier this week, with Industrial Assets Corp. of California having been identified as the winning bidder.
While an agreement to buy is in place, it needs the judge’s approval.
Industrial Assets representatives say they are willing to wait until Monday but will drop their bid if no decision is made at that time.
On Thursday, an undisclosed number of employees received letters that they were being temporarily laid off.
While no end date was given, the letters stated the layoffs would last until at least month’s end.
