Vertis Holdings gets approval for $1.95 million sale of York property

By Jim Witters

Wilmington, Del., July 31 - A Vertis Holdings, Inc. subsidiary received approval for the sale of about 17 acres in York County, Pa., to Gordon York, LP for $1.95 million, according to documents filed July 31 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 stated.

In the interim, Gordon York leased the property from the debtors.

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

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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