Press Release: Auction Set for Assets of National Magazine Distributor
LOS ANGELES (10/15/14)-After receiving approval from the U.S. Bankruptcy Court for the district of Delaware, Tiger Group's Remarketing Services Division will conduct an online sale of two state-of-the-art magazine wholesale distribution centers formerly owned by Source Interlink Distribution, formerly the nation's second-largest magazine wholesale distributor. Appealing to a wide range of businesses with warehouse and distribution operations, assets to be offered include sophisticated conveyor and shredder systems, forklifts and other material handling and plant support equipment, as well as office and computer equipment.
Online bidding is now under way at www.SoldTiger.com and will close in rapid succession, live auction style, on October 20th beginning at 10:30 a.m. (ET). Previews of the various assets being offered will be held on October 16th and 17th from 9:00 a.m. to 4:00 p.m. at the company's facilities located at 1850 Colonial Village Lane in Lancaster, Pa., and at 9450 W Sergo Dr. in McCook, Ill. Bidders will also have the option of acquiring each location as a turnkey package. Persons wishing to preview the various assets should contact Tiger Group to arrange for site visits.
"Equipment buyers within all industry segments will find tremendous value in the wide range of material handling and plant support assets in this auction opportunity," said John Coelho, Senior Vice President of Tiger Remarketing Services.
Source Interlink previously provided distribution services for some of the largest magazine and book publishers in the United States. Its operations included the distribution of publications to 32,000 retail locations and thecollection and disposal of unsold copies. Each 105,600-sq.-ft. facility is located in a scenic picturesque industrial park. Both facilities' closed loop systems feature approximately 95,000 square feet of a fully automated pick-to-light order fulfillment system capable of handling more than 1,000 items for shipping in boxes or plastic totes.
Key assets featured in the online auction include robotic pallet loading and packaging systems, three Balemaster horizontal automatic tie balers with vertical shredders, and Interlake drive-through racking.