Wednesday, July 16, 2014

G3K Displays auctions wood machinery following merger

GK3 Displays, a retail display manufacturer in North Springfield, will auction excess woodworking and metal fabrication machinery.
http://www.woodworkingnetwork.com/wood-market-trends/woodworking-industry-news/custom-woodworking-news/G3K-Displays-Auctions-Wood-Machines-CNCs-On-Merger-267272091.html

2 comments :

  1. Is there no recourse to reorganizing under new mgmt? Why no action from SRDC? Surely the creditors would gain far more from selling a viable business then liquidating it piecemeal at auction. Keep in mind, the auctioneer may keep a third for himself. Or is Springfield such a lousy place to run a business that no one wants to touch it?

    ReplyDelete
  2. G3K is the company that closed its doors a few months ago on 30+ employees who were left without paychecks. G3K received millions of dollars in loans days before the big wigs at the company in NJ ran off with all the money. So, this company is being sued by the loan company for fraud, there has been another company put in charge of G3K by the court in NJ. I hope by selling all this equipment, the employees who were left with lost wages will now be able to recover those wages! Its too bad Kiosko made the decision to merge with G3K, they should of just stayed a small local business. Now their company is gone and their name is associated with this mess. I was hoping to see Kiokso take their company back and re-open.

    ReplyDelete


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