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.
"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 the collection 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.
The sale also includes electric forklifts, chargers, batteries and other material handling equipment, air compressors, and other plant support assets. Also available are desks, credenzas, artwork and other office equipment, and laptops and other computer equipment. A 2003 Ford Econoline E350 Super Duty Cargo Van will also be up for bid.
Source Interlink Distribution LLC, the owner of the distribution centers, and its parent company Source Home Entertainment LLC, filed for Chapter 11 on June 23, 2014 (case number 14-11553(KG)).
Tiger Group provides asset valuation, advisory and disposition services to a broad range of retail, wholesale, and industrial clients. With over 40 years of experience and significant financial backing, Tiger offers a uniquely nimble combination of expertise, innovation and financial resources to drive results.