Irving Tanning Co. sale to be reviewed

HARTLAND – The pending sale of leather goods firm Irving Tanning Co. is to be evaluated by the Hartland firm’s creditors before it can be approved by the U.S. Bankruptcy Court in Maine.

Irving Tanning said it has signed a letter of intent to sell the business to Meriturn Partners LLC. Meriturn, with offices in Raleigh, N.C., and San Francisco, is an investor and adviser for middle-market restructurings and turnarounds.

If the Irving sale goes through, the company plans to continue supplying leather to shoe, handbag and personal leather goods industries and remain an important employer in Somerset County.

A hearing to consider the sale is scheduled for May 25. Irving’s creditors include Banknorth, the town of Hartland and Tyson Fresh Meats.