A Chittenden Superior Court has appointed state Rep. Linda Joy Sullivan of Dorset to help dissolve the former Koffee Kup Bakery’s remaining assets.
Koffee Kup, which owned the Vermont Bread Co. facility in Brattleboro and bakeries Burlington and North Grosvenor Dale, Conn., shut down in late April. A receiver was appointed to sell the company, and it was purchased by Flowers Foods of Georgia.
While that sale provided the company’s former workers with paid time off they were owed, Flowers Foods has no immediate plans to reopen the bakeries.
In her role, Sullivan was appointed to act as receiver “with respect to the dissolution and wind up of the Koffee Kup entities and distribution of the surplus assets, tangible or intangible.” That includes cash proceeds from the sale of assets to Flowers Foods, and remaining assets “including accounts receivable, causes of action and other claims of any of the Koffee Kup Entities against third parties.”
“We look forward to serving the court in the difficult circumstances surrounding the break up and dissolution of these renowned and cherished Vermont businesses. We were just appointed today, and so we have some catching up to do,” Sullivan told the Journal on Wednesday. “We can say, though, that we are thoroughly committed to an orderly and transparent process and want to thank the predecessor receiver for his service in this case.”
It’s the second new job for Sullivan in a week. She announced Sunday that she was appointed to the Vermont Judiciary’s Professional Responsibility Board’s Assistance Panel. That panel reviews complaints referred to it by bar or disciplinary counsel, and provides resolution by means other than discipline.
According to the order, Sullivan may take “all actions she deems reasonable and appropriate” to prevent waste of surplus assets and “preserve, secure, manage, maintain and safeguard” those assets.
Sullivan is also authorized to charter a third party appraisal to determine the value of the remaining assets, and “effectuate the proper allocation of the surplus assets to each of the Koffee Kup entities for application to claims” in accordance with the law.