HGP to Conduct Largest North American Apparel Manufacturing Auction

By May 5, 2014Press Releases

Heritage Global Partners to Conduct Largest

North American Apparel Manufacturing

Auctions of 2014, Beginning June 4-6

Two Global Online Auctions featuring over 3,000 Sewing Machines, Facility and Support Equipment, Raw Materials, Finished Goods Inventory, and much more

Sale Resulting from Closure of the 500,000 sq. ft. US Sewing Facilities of Riverside Manufacturing Company

SAN DIEGO & MOULTRIE, Ga.–(BUSINESS WIRE)–Heritage Global Partners (“HGP”), a global leader in asset advisory and auction services and a subsidiary of Heritage Global Inc. (OTCQB: HGBL and CSE: HGP), today announced that it will manage a series of sales for Riverside Manufacturing Company, a leading provider in the industrial work wear industry. This auction covers the complete removal of assets from its US sewing plants and related cutting and warehousing on Riverside’s corporate campus located in Moultrie, Georgia. The sale is a result of Riverside’s decision to close its US sewing operations in favor of manufacturing by contractor partners. Riverside’s home office remains in Moultrie, Georgia and it will continue to service and supply its customers through its national sales force and facilities located in Atlanta, Georgia and the Dominican Republic.

Riverside Manufacturing Company Sale #1

June 04, 2014 (7 am ET June 06 (10 am ET)

Apparel Equipment/Facility Public Preview: June 02, 2014 – June 03 (9 am – 5pm) at 1301 West Central Avenue, Moultrie, GA 31768 or by appointment (contact Ty Lindley with questions or information)

Key Assets:

  • 3,000 sewing machines covering every make and model (major brands)
  • Gerber fabric plotting, spreading, and cutting equipment
  • Tajima embroidery machines
  • Seaming, pressing, and steam equipment (major brands)
  • Generators, fork lifts, air compressors, vacuum pumps, trucks, and other support equipment
  • $700K+ of original cost sewing machine parts
  • $900K+ of original cost excess fabrics and textiles
  • Over $4.5 million of original cost discontinued /excess finished jackets, shirts, pants, and other apparel

“We anticipate strong demand from worldwide buyers as the upcoming auctions of Riverside’s manufacturing plant assets includes an unprecedented offering of high-quality industrial sewing machines and apparel manufacturing equipment from leading brands, raw materials and discounted/excess finished goods inventory,” stated Ty Lindley, Heritage Global Partners Director of Sales.

“HGP is conducting the year’s largest sale of apparel manufacturing assets in North America, by far. We have a great selection of industrial machinery and equipment and encourage interested bidders to review the upcoming inventory on our website as the full catalog will be available soon.”

Heritage Global Partners is one of the leading worldwide asset advisory and auction services firms. Learn more at www.hgpauction.com.

Contacts

For Heritage Global Partners
Ty Lindley, 858/847-0653
[email protected]
or
Jennifer Neuman, 212/835-8500
[email protected]