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Adam Aircraft to auction off assets in bankruptcy proceedings

March 28, 2008 - Most of the assets of the bankrupt Adam Aircraft Industries will be auctioned off next month.


March 28, 2008
By The Associated Press

March 28, 2008 – Most of the assets of the bankrupt Adam Aircraft Industries will be auctioned off next month.

   
The company filed for bankruptcy and closed its doors in
February after it failed to secure $30.5 million it was relying on to
bridge a gap until more funding could be obtained.

   
The Colorado-based company's closure put 800 employees out of
work, including 50 at a facility at Utah's Ogden-Hinckley Airport.

   
Adam's assets include airplanes, equipment, furniture,
computers and patents. They are collectively valued at more than $24
million.


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