PennySaver back in publication thanks to former employees

SANTA ANA, Calif. (KABC) -- The PennySaver publication abruptly ended last May, but now it's been saved by some of its former employees.

After operating for 54 years, the company filed for bankruptcy, which cost nearly 700 people their jobs. Elaine Buckley and Michael Whisner were in the crowd of employees gathering outside the Brea office, many of whom asked questions.

"We were passing out checks that they gave us that were not honored, they weren't any good. There was mass confusion," Buckley said.

But nearly a year to date of the closure, the PennySaver is back. With the help of anonymous investors, Buckley, Whisner and another former employee got the rights to the name, the website and saved the custom made inserting machines from destruction.

"We were able to bring back the product and make it look like the PennySaver never went away," Buckley said.

The publication's second chance is welcome news for some of the former employees who got their jobs back as well as for local businesses.

The first set of the new PennySaver mailers goes out May 18 to the Inland Empire and Temecula Valley areas with plans to expand its reach soon.