WILLIAMSTOWN - The Fenton Art Glass Company will be selling off its assets in three scheduled auctions in the coming months.
"It's part of the process we have to go through to meet our obligations to our creditors," said company President George Fenton Thursday. "We are following the recommendations of our financial advisers at the Centrus Group."
Two auctions of glass -- scheduled for April 21 and July 28 -- will be held at auctioneer Randy Clark's Auction Gallery in Dexter City. The third auction of assets will be May 24 at the Williamstown factory and will include, with reserve, the company's wholesale dealer list, the Fenton Art Glass Co. name, logos and trademarks, glass-forming molds and tools, proprietary glass formulas and other intellectual property.
Fenton said that, until the May auction, the company will continue to sell inventory and manufacture the Fenton Beads.
"It's status quo," he said. "The future of the company will depend on who buys the assets."
Fenton said the company has been selling the traditional Fenton glassware and continues to work with other organizations in the giftware industry.
At a glance
- Fenton Art Glass Company will be selling off assets in three scheduled auctions in the coming months.
- The sales are part of the company's continuing efforts to meet obligations to creditors, said President George Fenton.
- This announcement and the sale of items including the company name, logos and glass molds and tools does not mean the 107-year-old company will cease to exist, Fenton said.
It was announced last July that the company, which has fallen on hard times in the past few years, would shut down furnaces and no longer manufacture its traditional art glass.
The Fenton Beads are a new item the company began manufacturing in November 2010 and began selling in early 2011.
The auctions at Clark's gallery will feature glassware from all eras of Fenton's 107-year history. The pieces chosen for sale come from various storage areas within the Fenton factory.
Clark has conducted previous auctions for Fenton Art Glass, and many collectors of Fenton glass attend his sales. Each auction will consist of 400 historic glass items. The articles available on April 21 can now be viewed at Clark's website: www.randyclarkauctions.com.