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 for retail and commercial spaces.
We realize that companies, both new or established, face different kinds of obstacles and challenges that demand unique solutions.
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 and appraisers 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.
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 office furniture and computer 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.
Please Contact us for a FREE consultation. We believe that any time spent with our specialists will facilitate your decision-making.
You should engage a liquidator as soon as possible. Selling some of your assets can be a great way to recoup some money to pay back any outstanding debts and avoid bankruptcy.
This depends on the type of assets being liquidated and the business model of the liquidator. Some liquidators like to perform on-site / auction sales from the sellers location or remove all assets to bring to their warehouse for processing. Normally with an on-site / auction sale the seller can expect to pay some marketing cost but will recoup that cost from the profits when the assets sell. If the assets are being removed the seller can expect to be paid immediately upon removal.
If you’re selling your assets to a liquidator then there are no costs that you will incur because liquidators normally pay the seller and organize all logistics for removal.
The assets are sold and the proceeds are spilt amongst the creditors. Creditors that have secured debt against the company are paid first leaving unsecured creditors sometimes with little or nothing.
The Difference Between Bankruptcy and Liquidation
Posted On September 15th, 2020
