Daily News: October 22, 2012

Tiger Group to Liquidate RCR Plumbing and Mechanical Assets

Tiger Group’s Remarketing Services division, in cooperation with Hackman Capital’s Equipment Acquisition Company, is auctioning a wide range of assets on October 30 from plumbing and pipeline contractor RCR Plumbing and Mechanical, which filed for Chapter 11 bankruptcy protection last year.

Beginning at 9:30 a.m. (PT), the live webcast auction will feature plumbing equipment, tools and supplies, as well as construction equipment, forklifts, an entire fleet of trucks, office equipment, computers, furniture and much more.

Bidders will have the opportunity to participate in a live, theater style auction from RCR’s Riverside headquarters, which will be simultaneously broadcast over the internet on BidSpotter.com. Participants will also have the ability to submit pre-auction bids.

RCR, which voluntarily filed for Chapter 11 in October 2011 in the U.S. Bankruptcy Court for the Central District of California, Riverside Division, is still operating and attempting to reorganize its business.

“The company was founded in 1977 and grew to become one of the larger residential and commercial contractors in the region, with millions of dollars’ worth of assets, more than 500 employees and multiple locations throughout California and Nevada,” noted Jeff Tanenbaum, president of Tiger Remarketing Services. “As a result, the volume and diversity of inventory available at auction here is extraordinary.”

Tiger Remarketing Services and its affiliates at Tiger Group provide advisory, restructuring, valuation, disposition and auction services within a broad range of retail, wholesale, and industrial sectors.

Hackman Capital is a privately held, asset-based investment firm that focuses on the acquisition of industrial real estate and the purchase and sale of industrial equipment.