The New England Confectionery Co. — NECCO — is headed to auction after a failed attempt by a Boston investment firm to buy the embattled confectionery company.

A past president and ceo of New England Confectionery Co. (NECCO) has launched an initiative to save the Revere, Mass.-based manufacturer, which faces laying off nearly 400 employees if it doesn’t find a buyer.

Online bulk candy retailer Candystore.com says it has seen a boom in NECCO wafer sales after Revere, Mass.-based New England Confectionery Co. announced in March it could face major layoffs and possible closure if it doesn’t find a buyer.

The Boston Globe, the Shelby Report and other sources reported NECCO CEO Michael McGee told Massachusetts and Revere officials in a March 6 letter that the 171-year-old company has been in negotiations with potential buyers. 

Ferrara Candy Co. announced another closure last month, this time affecting its Chattanooga location.

 Blame it on Grandmother Geraldine. That’s where Amy Hansen learned her love for baking, which eventually led to candy making.