Tuesday, November 21, 2006
The bankruptcy auction of about 655 acres next to Weston Nurseries, which was scheduled for earlier this month, was again postponed, this time until late December or more likely to April, according to Gary Furst, president and CEO of the company.
He said it was postponed because Wayne and Roger Mezitt, the property owners who also own Weston Nurseries, are “making some progress” with a potential buyer.
Furst had said last month that he hoped a deal would be complete by the end of October.
The Mezitt brothers filed for Chapter 11 bankruptcy protection for the gardening center a year ago after years of disagreement over how to run the company. A land sale would allow them to avoid a bank foreclosure auction.
The owners held their own auction this summer with an asking price of $29.5 million to $37 million; there were no bidders. The land originally went up for sale in February of last year.