Lake auction fails to produce sale

An attempt to auction the assets of moribund Lake Aircraft was unsuccessful. A first-ever auction during the air show drew a lot of spectators — and seven pre-qualified bidders who had to put up $100,000 for the right to bid — but no one actually bid on the company. Higgenbotham Auctioneers, the Lakeland, Fla.-based company attempting to sell Lake, is still looking for a buyer for the airplane company.

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