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Friday, November 4, 2011

Grew Boats Auction Approved

Owen Sound | by Kevin Bernard  

A court has given the receiver the green light to sell off the remaining assets this month.

Phase Two of the sell-off of the assets from Grew Boats will go ahead on November 17th.

BDO Canada Senior Vice President Bill Courage says the receiver got permission from the court to hold the auction.

It will involve equipment, moulds, inventory and the remaining assets.

Jim Snider's Auction services will handle the bidding, beginning at 9:30 AM on November 17th.

The receiver also received permission to offer the real estate on Highway 6 south of Owen Sound for sale at auction, at 1 PM on the same day.

The real estate auction will be subject to a reserve bid.

At an auction in late August -- hundreds of people attended, purchasing numerous items like cars and boats.

Grew Boats has liabilities of more than two million dollars owed to about one hundred creditors including two dozen employees.

 

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