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cheapbag214s
Posted: Mon 19:32, 02 Sep 2013
Post subject: Tiger Group Conducting Sealed Bid Offering Of Asse
Tiger Group Conducting Sealed Bid Offering Of Assets Of Bankrupt Traffic Safety Control Equipment Manufacturer Addco,
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ST. PAUL, Minn., March 14, 2013 /PRNewswire/ -- Tiger Group's Remarketing Services division is conducting a Sealed Bid Offering of assets of St. Bankruptcy Court-ordered sealed bid sale,
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, with all bids due by 4:00 pm ET on March 21. Bankruptcy Court for the District of Delaware. Tiger is conducting the sale on behalf of Chapter 7 Bankruptcy Trustee George Miller. A preview of the assets being sold is being conducted,
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, at the 60-year-old company's 80,000-square-foot manufacturing facility,
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, located at 240 Arlington Ave. East in St Paul.
"We are working in cooperation with Addco's former management team to facilitate a sale comprised of lots that will appeal to competitors, dealers and distributors, and end-users,
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," said Jeff Tanenbaum, president of Tiger Remarketing. "This process is designed to identify the highest and best bidders,
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, while maintaining large enough lot packages to preserve enterprise opportunities. In other words, a bidder interested in servicing Addco's in-field equipment may only be interested in purchasing the company's parts inventory lots. By the same token,
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, a company interested in stepping into Addco's shoes as a manufacturer could extend their bid to include the intellectual property and machinery and equipment lots. The sale will be awarded in consideration of the highest and best combination of bids."
Tanenbaum added that the process includes a provision for a round of live bidding in the event that comparable bids for various lots are received from different parties,
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. This phase would be conducted through a telephonic auction on March 25,
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Tiger Group provides asset valuation, advisory and disposition services to a broad range of retail,
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, wholesale, and industrial clients. With over 40 years of experience and significant financial backing,
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, straight-forward approach is the foundation for its many long-term 'partner' relationships and decades of success. Tiger operates offices in Los Angeles, Boston and New York.
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