No Sale Yet For Fred Fuller Oil

Nov 25, 2014

Credit Kim Carpenter via Flickr CC

A tentative agreement to sell the assets of a home heating oil company seeking bankruptcy protection has hit a snag.

The agreement would sell the ongoing business of Fred Fuller Oil & Propane to Rymes Propane & Oil. The Telegraph of Nashua reports talks broke down Monday in bankruptcy court over issues related to the Internal Revenue Service's alleged $2.5 million claim against several of Fred Fuller's personal properties.

Scott Beltran, a member of the Fuller family, said the company is in "deep conversations" with two other prospective buyers should the proposed sale collapse.

U.S. Bankruptcy Court Judge J. Michael Deasy continued the emergency hearing to Tuesday to allow Rymes time to resolve outstanding issues.