Vertis seeks approval for $1.95 million sale of York property

By Jim Witters

Wilmington, Del., July 10 - A Vertis Communications subsidiary is seeking approval to sell about 17 acres in York County, Pa., to Gordon York, LP for $1.95 million, according to a July 10 filing with the U.S. Bankruptcy Court for the District of Delaware.

Debtor American Color Graphics, Inc. had reached agreement to sell the property to Gordon York in August. But unresolved environmental remediation concerns delayed the closing of the sale, court documents state.

In the interim, Gordon York has been leasing the property from the debtors.

The property includes 17.22 acres and a 149,717-square-foot building.

A hearing is scheduled for July 30.

The sale closing is scheduled for July 31.

Vertis Holdings, Inc., a Baltimore-based marketing communications company, filed for bankruptcy on Oct. 10, 2012 in the U.S. Bankruptcy Court for the District of Delaware. Its Chapter 11 case number is 12-12821.

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