Fountain Powerboat Industries says that a deal is pending between its executives and an investment group to save the company from being auctioned. A bankruptcy auction for the company’s production facilities, tooling, and Fountain and Baja brands is scheduled for next Monday.

Reggie Fountain, president and CEO, told The Washington Daily News that the company has signed an agreement with Liberty Investments, which would make that group the majority shareholder. Fountain told the paper he would retain his position as CEO under the deal.

Fountain looks to investment firm to hold company together

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