LIVONIA, Mich. (AP) — The suburban Detroit-based Awrey Bakeries chain has been sold, and its new owner says he'll try to rehire many of its 150 laid-off employees.

The Detroit News says Jim McColgan is the new chief executive of the company. It says Ron Beebe owns the Livonia-based company and is changing its name to Minnie Marie Bakeries but will preserve the Awrey brand name.

McColgan says talks to buy the 103-year-old company led to a deal that closed Tuesday.

Awrey closed its doors last Friday. McColgan says he hopes to reopen the company within 30 days.

The Detroit Free Press says Fletcher and Elizabeth Awrey found the company in 1910 and the family ran it until 2005, when investors bought it for $25 million.