The remaining former assets of bankrupt auto parts giant Fenco are up for bid following the successful large-lot sale of the majority of the assets.
Tiger Group's Remarketing Services Division is liquidating the bankrupt companies' remaining warehouse and distribution center equipment in an online auction that closes next week.
Bidding is underway on the former assets of the companies and will close in rapid succession, live auction style, on 17 October.
During the initial court-supervised sealed-bid auction of former Fenco assets that closed on 30 August and 6 September, Tiger sold full product lines, business units and the majority of equipment - including lift trucks and pallet racks - to two strategic buyers: automotive aftermarket companies Cardone Industries and Triple Diamond Imports. Cardone also took over the lease of Fenco's 600,000ft2 facility in Lock Haven, Pennsylvania
The online offering includes 3,000-lb. capacity battery- and manually-operated scissor-lift pallet jacks, H-class thermal transfer barcode label printers, laser printers, RFID hand-held scanners, CV joint grinders, calibration tables, and other machinery and equipment.
Fenco was a major supplier to companies like AutoZone, GM and NAPA Auto Parts, with annual revenues of approximately $200m. On 10 June 2013, Fenwick, Introcan and related entities filed for Chapter 7 in the U.S. Bankruptcy Court in Wilmington, Delaware. The Torrance, California-based companies had sold new and remanufactured parts under private-label and the Fenco and DynaPak brand names for passenger vehicles and trucks sold across the globe.
Parts sold by the companies included steering components, brake calipers, master cylinders, hub assemblies, clutches and hydraulics.
