AVT management said its core vending and automated retailing business remains strong, and blamed the filing on past attempts at diversification into unrelated businesses. Wayne Salvino, the newly installed president of AVT, emphasized that the filing does not mean that AVT is going out of business.
TAGS: AVT bankruptcy filling AVT Chapter 11, AVT Inc., AVT reorganization, Wayne Salvino, AVT Vending, Automated Vending Technologies Inc.CORONA, CA — AVT Inc. said it has filed for Chapter 11 bankruptcy protection.
Statement by AVT, Inc.:
“Our core business remains strong, and this filing was due to the company’s unsuccessful incursion into unrelated industries. We are convinced that the rehabilitative process of chapter 11 is the best way to provide a path to future success. 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.”
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