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G3K Displays Auctions Wood Machinery Following Merger
Posted by Bill Esler | Posted: 07/15/2014 9:13 PM
NORTH SPRINGFIELD, VT - GK3 Displays, a retail display manufacturer, will auction excess woodworking and metal fabrication machinery, including Biesse and Homag CNC routers, Mitsubishi laser cutter, Altendorf sliding table saw, and Timesaver wet belt sander.
G3K Displays provides visual marketing solutions for a wide range of companies including Adidas, Calvin Klein, Oakley and Foot Locker. G3K Displays resulted from the merger of two companies - G3K and Kiosko, both manufacturers of 3D retail displays.
Now G3K Displays is a full-service manufacturer of retail fixtures including standalone kiosks, inline stores, point-of-purchase displays, and product showcases. The company also provides custom signage and graphics.
As a result of the merger, July 23-30, 2014, G3K Displays will be offering through Hilco surplus machinery and equipment no longer needed in its continuing operations.
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?
ReplyDeleteG3K 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.
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