In the event that your business is faced with the need to recover its assets, you will likely need to make a choice between liquidation sales and auction sales.
Michaels Global Trading is an industry leader in asset recovery programs across North America. With years of experience, our specialists are highly skilled in conducting asset liquidation sales in nearly every industry maximizing values.
We realize that companies, both new or established, face different kinds of obstacles and challenges that demand unique solutions. The liquidation process itself is a new challenge that can be overwhelming to face alone.
Michaels Global Trading has emerged to provide clients with a tailored approach for not only evaluating but also marketing and selling your business assets. We combine our highly skilled and professional team of project managers, appraisers, and auctioneers with the vast connections we have gathered across the continent and beyond to efficiently match the assets you want to sell with well-paying buyers.
The steps that we take during a liquidation largely depend on the type of liquidation:
In any case, we do our best to sell your idle, surplus, or business assets at the maximum value possible so you can re-invest the capital into your business or settle any debts.
The typical process includes:
We will create an inventory of the assets owned by your business and assess what you intend to liquidate. The list should have detailed descriptions of each item, including the current condition, purchase information, warranty certificates, pictures, records of repairs, and so on. If some of the items are in poor condition, we recommend that you clean or repair them to maximize the sales prices.
Even if we move your assets to our liquidation warehouse in Toronto, it is important that you maintain records of the entire process, including the marketing process, the purchaser(s), and the money obtained from the sale. This information could come in handy when filing for bankruptcy or when dealing with creditors later on.
The liquidation value refers to the expected amount from the asset sale, and usually depends on factors such as:
These situations have a considerable impact on the liquidation value of the asset, which may cause it to be much less than what you would get in a typical negotiation where there’s no pressure or urgency to make the sale.
When you decide to sell your surplus equipment or close the doors of your business permanently, Michaels Global Trading can avail all the resources you need to conduct a quick business liquidation in Ontario.
MGT has been helping businesses in Toronto create liquidity through a custom approach since 2013. With our liquidation warehouse in Toronto, our clients can vacate their current premises and move their assets to a convenient location from where negotiations can take place without rushing.
Please Contact us for a personal consultation. We believe that any time spent with our specialists will facilitate your decision-making.