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Tiger Group, PPL to Conduct Online Sale of Lia Sophia’s Remaining Assets

May 21, 2015, 07:09 AM
Filed Under: Industry News

Following the successful completion of the bulk and online auction sale of equipment and other assets from Lia Sophia’s Richmond Hill, Ontario distribution center, Tiger Group’s Remarketing Services Division and PPL Group are conducting an online sale of equipment and other assets from the direct sales company’s 210,000-square-foot Roselle headquarters and fulfillment center. . The facility will also be made available for sale or lease on a turnkey basis.

“This sale represents a unique buying opportunity for a wide range of warehousing and distribution operators in metro Chicago and other Midwest areas,” said John Coelho, Senior Vice President of Tiger Remarketing Services. “The assets include highly sophisticated material handling systems and state-of-the-art equipment in like-new condition. Although the facility and assets remain available for sale or lease on a turnkey basis—and in bulk for selected assets—we urge interested parties to act quickly, since the online auction will soon launch.”

The Roselle headquarters and fulfillment center was built-to-suit in 2006, and includes receiving, inspection, packaging, distribution, packout/quality control, pick-to-light replenishment and shipping systems.

For more than two decades, Lia Sophia sold necklaces, bracelets, earrings and rings, under an independent sales representative business model, similar to the one used by Avon and Tupperware. Citing “the challenging business environment,” the company began to wind down the business in the United States and Canada in December 2014.

Key assets featured include like-new receiving, inspection, packaging, distribution, packout/quality control, pick-to-light replenishment- and shipping-systems. Wildeck mezzanine/guard rail/safety bollards are positioned throughout, along with hundreds of sections of Interlake pallet racking, and complete conveyor systems. The facility also includes two A-frames serviced by 912 storage bays of Interlake pick modules.

Tiger Group provides asset valuation, advisory and disposition services to a broad range of retail, wholesale, and industrial clients. With over 40 years of experience and significant financial backing, Tiger offers a uniquely nimble combination of expertise, innovation and financial resources to drive results.

PPL Group is a private equity firm which uses its capital to help businesses in transition, primarily by monetizing commercial and industrial assets.  PPL has worked with many large corporations and hundreds of small to middle-market businesses during change, turnaround, restructuring, and bankruptcy situations.

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