RICHMOND, Va. and EVERETT, Wash., Dec. 4,
2019 /PRNewswire/ -- GA Global Partners, LLC and Onyx
Asset Advisors today announced they will conduct a public online
auction of the assets of Premier XD, a leading store fixture
manufacturer. The auction will be held on December 10 and 11, 2019.
With retail store closings occurring at a record pace over the
last three years, more than 250 million square feet of selling
space was cleared in 2017 and 2018 alone. The impact of these
closures is evident in the many real estate vacancies throughout
America's malls, but less obvious is the impact that these closings
have had on supporting businesses like store fixture
manufacturing.
Premier XD, which also operated as Premier Store Fixtures,
shuttered its operations in September
2019, unable to secure funding to help the company's new
management navigate through the challenging market. This has
resulted in an offering of over one million square feet of
state-of-the-art woodworking and metalworking manufacturing
machines and equipment and high capacity distribution centers in
the greater Richmond, VA and
Everett, WA areas.
"When a company like Premier XD closes, the sheer volume of
machinery and equipment it makes available to regional and national
businesses is significant," said Jeff
Tanenbaum, President of GA Global Partners. "Nothing fully
compensates for the impact of a closed business to a community,
especially this time of year, but the hope is that competitors and
small businesses looking to grow can do so by purchasing quality
woodworking and metalworking machinery, forklifts, hand tools
office equipment for discounted auction prices."
Key items available for auction include multiple late model
Schelling automatic panel saws, Biesse beam saws and machining
centers, AMADA press brakes and laser cutters and more than 50
Combilift and Crown forklifts. The company's remaining store
fixture products are also available through direct sale.
"The selection of available assets at this sale is quite
impressive," added K. Kevin Otus, Managing Partner of Onyx Asset
Advisors. "There's literally something for everyone – from state-
of-the-art machinery to a tremendous inventory of raw uncut
laminate and wood products being sold in large volume lots."
The live, online-only webcast auction of Premier XD's assets
will begin at 10:00am EST
(7:00am PST) on December 10, 2019 for the three Virginia locations, and at 10:00am PST (1:00pm
EST) on December 11, 2019 for
the Washington location.
Virginia based inventory is
available for in-person inspection on December 9, 2019 from 10:00am to 4:00pm EST at 4650 Oakleys Ln.,
Richmond, VA 23231 for
manufacturing equipment, and at 2400 Distribution Ln., Richmond, VA 23231 and 3910 Technology Pk.,
Sandston, VA 23150 for
distribution equipment. Washington
area assets will be available for in-person inspection on
December 10, 2019 from 10:00am to 4:00pm PST at 1920 Merrill Creek Pkwy,
Everett, WA 98203.
Advanced bidding is open. Interested bidders can pre-register,
bid and view auction details at www.gaauction.com.
About Onyx Asset Advisors, LLC
Onyx Asset Advisors is
an independent financial services company focusing within the
monetization and asset advisory industry. We specialize in creating
multifaceted custom disposition and monetization strategies by
providing immediate liquidity utilizing formats ranging from
outright asset purchases, negotiated orderly sales, prefunded
disposition activities and public auctions either as equity
investors or on a commission / fee for services structure. Our
team's combination of interdisciplinary expertise spans a broad
spectrum of asset classes including; inventory, machinery &
equipment, intellectual property, real estate, and receivables.
About GA Global Partners
For 40 Years, GA Global
Partners has been a leading asset disposition solutions provider to
companies worldwide, leveraging real time digital technologies and
proven marketing expertise to reach a broad network of qualified
buyers around the world. From Fortune 500 companies to small
business organizations in a variety of industries ranging from
construction, manufacturing, and wholesale distribution to food and
beverage, healthcare and consumer products, GA Global Partners has
demonstrated its ability to move assets quickly and efficiently for
maximum return. GA Global is a subsidiary of Great American Group,
a B. Riley Financial company (NASDAQ:RILY).
Auction Inquiries
Paul
Brown
GA Global Partners
pbrown@gaglobl.com
(203) 313 8935
Media Inquiries
Jo Anne
McCusker
B. Riley Financial
jmccusker@brileyfin.com
(646) 885 5425
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SOURCE GA Global Partners