AVT Inc. files for bankruptcy protection
Vending manufacturer AVT Inc. has filed for Chapter 11 bankruptcy protection, according to a press release. AVT management claims this event was caused by unsuccessful expansion into other industries, not their core vending business.
"We are convinced that the rehabilitative process of Chapter 11 is the best way to protect our company and provide a path to future success," new AVT president Wayne Salvino said. "We remain committed to our roots in developing patentable and proprietary technologies, and plan to continue to operate as an innovative leader in the automated retailing industry."
AVT plans to continue their business processes, if they receive court approval. AVT plans to release more information in the coming weeks.
Topics: Automated Retail / Vending
Companies: AVT Inc.