ENFIELD, Conn., March 25, 2021 /PRNewswire/ -- The entire contents of the printing plant for the Philadelphia Inquirer are being auctioned. According to Connecticut-based Capital Recovery Group (CRG), the assets available at auction include all of the equipment in the 674,000 square foot printing plant, the 150-unit truck fleet, 70 forklifts and material handling trucks, supplies inventory, maintenance garage and fitness center from one of the oldest continuously operating newspapers in the nation. The Inquirer closed the printing plant at the end of 2020 when it shifted print production to a New Jersey contractor.
"The list of machinery and equipment available from this modern facility is far too long to list," according to CRG President Bill Firestone. "We have it all on our auction website (https://crgllc.com/auctions/philadelphia-inquirer/) for on-line only bidding April 7-8, 2021 beginning at 10 am eastern time. This represents an opportunity for companies to acquire quality equipment, tools, and vehicles at a significant savings."
"There is a great deal of value associated with this print production facility and we have detailed what is available for bid on our website," added Firestone.
Prospective bidders need to register in advance at CRG's website: https://crgllc.com/auctions/philadelphia-inquirer/. In addition to reviewing the assets online, prospective bidders may inspect the equipment from 9 am to 4 pm on Tuesday, April 6.
Capital Recovery Group (CRG) is a global private equity firm that creates liquidity for its clients through expertise, innovative solutions, and access to worldwide markets. Specializing in complex scenarios comprised of industrial assets and real estate, the company helps its partners revitalize idle or marginally productive assets and liquidate surplus. The company deploys CRG capital to directly purchase assets or debt, invest in equity, or perform a combination that delivers optimal solutions. CRG has built a reputation by providing uncompromising service, qualified knowledge and creative strategies. Working collaboratively, its team of experts acts as advisor, advocate and problem-solver while acquiring actionable intelligence that brings clarity to complex financial decisions.
Media Contact: Tom Nicholson, 212-203-2803
SOURCE Capital Recovery Group