On August 24th 2010, Liquid Asset Partners LLC of Grand Rapids, MI, purchased all the assets of the Barcalounger and American of Martinsville furniture factory in Martinsville, VA in a consortium with HPC3 and Joerns Healthcare.
The consortium won after 10 rounds of heated bidding with Liquid Asset Partners purchasing the physical assets of the company including finished product, raw material supplies, office equipment, company vehicles and factory equipment. The other parties of the consortium purchased the intellectual property of Barcalounger and American of Martinsville furniture. The liquidation sale of all furniture inventory, leather, fabric, wood, raw materials, vehicles, and factory equipment will be open to the public starting on Tuesday August 31st at the Martinsville, VA offices and factory locations.
Bill Melvin Jr., CEO of Liquid Asset Partners LLC said, "It's sad to see the closing of such a storied factory in a town that revolves around the furniture industry. The 40ft high solid wood chair that sits as a monument to the company in the center of town says it all. Both companies have a long history and great reputation. The factory is absolutely full of furniture and items in every nook, cranny, and room. This will be the last opportunity for people to see the inner workings of the factory and also purchase furniture, inventory, fabric, or equipment right off the factory floor. We are opening up the sale to the public and this will allow everyone the chance to save huge amounts of money on furniture and other factory items." Melvin says, "It's our job to pick up the pieces from the ground and put them back into use in the marketplace. It's going to be an opportunity of a lifetime for any buyers."
Prospective buyers should contact Liquid Asset Partners LLC at phone number 616.719.5917, email Sales(at)LiquidAssetPartners(dot)com or visit their website at www.LiquidAssetPartners.com to view inventories and photos.
To be sold : Thousands of pieces of furniture, recliners, chairs, office equipment; raw materials including fabric, wood, work in progress, and a huge inventory of leather; also in the sale is an enormous amount of factory equipment and vehicles including saws, mills, lathes, CNC routers, forklifts, tables, tools, carts, trucks, cars, a John Deere tractor and thousands of other items. The Corporate Offices are located at 128 E. Church St, Martinsville, VA and the Factory is located at 11 Redd Level Plant Rd, Martinsville, VA.
Due to the short window of time allowed for the sale, Liquid Asset Partners will be soliciting offers from all interested buyers and making sales rapidly regardless of cost or loss. These facilities are enormous and must be emptied in a very short time, so Liquid Asset Partners will listen to any and all offers. "The factory alone is over 800,000 square feet and has millions of dollars worth of furniture, supplies, and equipment to be sold till it's empty." Melvin says, "Anyone interested in furniture, decorating, or who has a manufacturing business should make contact with us immediately. This is an opportunity for buyers to purchase furniture for their homes or businesses at a fraction the cost of new." Liquid Asset Partners will be advertising this nationwide and will be offering fantastic bargains.
About Liquid Asset Partners LLC - Liquid Asset Partners works with Banks, Retailers, Bankruptcy Courts, Trustees, Manufacturers, and Lenders. They make cash purchases and run commission based disposition sales in Retail, Industrial, Wholesale, Motorsports & Equipment. Since 1973 their management has conducted liquidations & valuations from over 10,000 facilities and has sold assets from all 50 states including Canada and Mexico. A few notable sales were: Circuit City's 8 Distribution Centers and World Offices, Indian Motorcycle Factory, Kmart World Headquarters, Inkstop's 150 stores of merchandise, and 300+ Builders Square Home Improvement Stores.
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