Liquidators and auctioneers saw a booming business during the Covid-19 pandemic even as other companies faced financial distress.
Many floundering businessesincluding Century 21 Department Stores and Christopher & Banks Inc. to Loves Furniture Inc.were forced to sell off their inventory, equipment and other assets, often in bankruptcy.
The large volume of business owners assets that cycled through online auctions, while underscoring their struggles, is also likely to leave a lasting imprint on more efficient liquidation processes, industry executives say.
Gyms unloaded treadmills and barbells. Restaurants shed tables and commercial gas ranges. Tree service trucks, wedding dresses, art works, real estate and even entire businesses were f…
Read the full article at: https://news.bloomberglaw.com/bankruptcy-law/liquidators-listings-prices-spike-on-more-covid-bankruptcies
