M. Fabrikant to Auction Assets

M Fabrikant & Sons Inc. has asked a judge for permission to auction its assets, the Associated Press reported recently. Under the plan, M. Fabrikant would sell all of its assets, including inventory, accounts, and intellectual property and then file a liquidation plan, AP said.

M. Fabrikant has been under Chapter 11 bankruptcy protection since November. A Fabrikant subsidiary, Fabrikant-Leer International, is also in Chapter 11. The company has denied reports it applied to file Chapter 7.