Solyndra’s Assets to be Auctioned Off Online
SAN DIEGO, Oct. 20, 2011 — Heritage Global Partners will conduct a global webcast auction of surplus assets held by Solyndra LLC, a cylindrical solar panel manufacturer that filed for bankruptcy protection under Chapter 11 on Sept. 6. The auction will take place Nov. 2-3 via live global webcast and in person at the company’s Fremont facility.
Heritage Global Partners obtained approval from the bankruptcy court on Oct. 17 to conduct the auction of surplus assets not required for the restart of Solyndra’s production process. Solyndra plans to sell its core assets on a turnkey basis through a separate process approved by the court.
The auction will feature world-class assets, finished inventory and manufacturing equipment as well as office furnishings and work stations, computers and networking equipment, machinery and OEM spare parts.
Solyndra suspended operations Aug. 31, to evaluate its options. To achieve the highest return for creditors under the circumstances, it chose Heritage Global Partners — an asset advisory and auction services firm — for its global reach and reputation.
See: Solyndra Files for Chapter 11
For more information, visit: www.hgpauction.com
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