Glen Cove, NY— PCB manufacturer Photocircuits Corp. has received approval to proceed with the sale of substantially all of its assets, including the assumption of certain liabilities, to a long term equity investor. 
 
A private equity investor is currently the leading bidder in the auction. The firm has stated its intention to operate the business with the current management team and employees. 
 
The final purchase price is subject to other offers that might arise at the formal auction on February 6.
 
The sale will bring Photocircuits nearer to the completion of its reorganization under Chapter 11 of the U. S. Bankruptcy Code.

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