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Well-Maintained Electrical Contracting Service Equipment, Vehicles, Tools and Other Assets Up for Bid at Bankruptcy Auction
September 11, 2019
Source: Tiger Group and Loeb Winternitz
By order of the U.S. Bankruptcy Court, District of Minnesota, Tiger Group, in cooperation with Loeb Winternitz, will conduct an online-only offering for well-maintained trencher/cable plows, hydraulic mini excavators, service trucks and other vehicles, and electrical parts inventory formerly owned by People's Electric Co., Inc. The offering from the shuttered electrical contracting company also features ATVs, hydraulic and portable benders, traffic and streetlights, a wide selection of power and hand tools, and other equipment..
“Electrical contractors, mechanical, electrical and other engineering service providers, and utilities will be interested in the broad-based offering of well-maintained equipment, vehicles and inventory available at this auction,” said John Coelho, Senior Director of Tiger’s Commercial & Industrial division. “In addition to the breadth and quality of the assets, the competitive pricing should result in robust activity.”
“People’s Electric was a well-known, multi-generational contractor in the greater Minneapolis-St. Paul metropolitan area,” said Charles Winternitz, President of Loeb Winternitz Industrial Auctioneers. “With this auction including such a large offering of service equipment, vehicles, and electrical and piping inventory, we anticipate that contractors will come from far and wide to participate.”
Bidding is now under way at www.SoldTiger.com and will close in rapid succession, online auction style, at 9:30 a.m. (CT) on September 18. All bidders are required to register prior to the sale at SoldTiger.com. Previews of the assets are available by appointment only at People’s Electric headquarters, located at 277 Fillmore Ave E., St. Paul.
Featured heavy equipment includes a 2014 Ditch Witch ride-on trencher/cable plow with only 939 hours, and trenchers and excavators by manufacturers like Case and Takeuchi. The offering also includes a Sterling crane truck with a USTC Manitowoc crane, along with a Freightliner digger utility truck with a Terex Commander crane.
Dump trucks, service trucks, cargo vans and pickup trucks by companies like Freightliner, Ford and Chevrolet will also be offered for sale. Flat bed, cargo and reel trailers will be up for bid, along with a John Deere ATV.
Other assets offered for sales include a bending table, and portable benders, pipe threaders, conduit, pipe racks, telephone and light poles, a large quantity of electrical parts and inventory, office furniture and business machines.
The company filed for Chapter 7 bankruptcy in U.S. Bankruptcy Court, District of Minnesota on October 29, 2018 (case number 18-33363-WJF).
For further information on the offering, visit: www.soldtiger.com, or contact John Coelho, email@example.com. For registration and bidding information, visit: www.LoebWinternitz.com to access the bidding portal, or contact Charles Winternitz, firstname.lastname@example.org.
Media Contacts: At Tiger Commercial & Industrial Division, John Coelho, JCoelho@TigerGroup.com, (617) 523-5866; at Jaffe Communications, Bill Parness, (908) 789-0700, email@example.com or Elisa Krantz, firstname.lastname@example.org.
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