Tradewest was appointed in January, 2012 by KPMG Inc., Receiver, to manage the auction and liquidation of this entire moulding and staircase manufacturing plant in Kelowna, BC. Tradewest successfully negotiated an entirety sale of the plant as a going concern asset package to a new group, partly comprised of former senior management, which resulted in a significantly higher return to the secured creditor, both from increased sale proceeds and from savings on occupational costs of premises. Assets included a Weinig Raimann rip saw system, moulders, resaws, grinding room, forklifts, dust collection systems, complete woodworking and edge glue laminating shop, and over $820,000 at cost in mouldings, stair components, hardware and raw wood inventories.
Tradewest is flexible in its approach to the sale of assets, and always seeks to recover the maximum value on behalf of owners or creditors. This is just one of many occasions in which Tradewest has been appointed to liquidate assets and instead sells the business as a going concern, resulting in continued contribution to the local economy, continued employment for dozens of staff and management, and a higher net return to the secured creditor.
The only remaining item in this sale is a Toyota 7,000LB forklift, (LPG, Side shift, triple 193" mast, low 5,700 hours) that is available for immediate sale.
Contact Ken Ardiel for information at 604.530.9351.