Rasmus Asset Advisors to Conduct Complete Liquidation of Cherokee Wholesalers Acquisition Corporation and Europa Stone at Online Auctions

ALEXANDRIA, Va., Feb. 15, 2011 /PRNewswire/ -- Rasmus Asset Advisors (www.rasmus.com) announces the online liquidation auctions of Cherokee Wholesalers Acquisition Corporation and Europa Stone, according to Christopher R. Rasmus.

"We are making a complete liquidation of both Cherokee Wholesalers and Europa Stone," explained Rasmus. "We have divided these inventories into four online auctions. This is an excellent opportunity to pay auction prices for new building inventories as well as some nicely maintained warehouse, material handling and office equipment."

Cherokee Wholesalers was a family-run business founded in 1965, and was the largest distributor in the Washington DC metro area. "They are a victim of the failing economy," said Rasmus. "This is a Uniform Commercial Code (UCC) sale by order of the secured creditors. This is a complete liquidation and everything will sell to the highest bidders."

Warehouse and material handling equipment from Cherokee Wholesalers' 40,000 square-foot warehouse distribution facility, including forklifts, trucks, pallet racking, office and business equipment is open for online bidding now at www.rasmus.com, along with over $2 Million in new hardwood flooring inventory, hardwood molding, retail inventory, tools and machinery.

"Europa Stone has filed Chapter 11 bankruptcy and this sale is by order of the U.S. Bankruptcy Court for the Eastern District of Virginia," said Rasmus. "Europa Stone is an international importer of the finest stone and marble products and a leading distributor in the Washington, DC, area."

All marble and granite slab inventory, slab frames, kitchen inventory, trucks, forklifts, cranes, office and business equipment from Europa Stone will sell at online only auction to the highest bidders.

These four online only auctions will begin closing on Wednesday, February 23, 2011. Bidders must register prior to bidding. Items may be inspected during scheduled preview times. For more details and terms, visit www.rasmus.com or call (703) 768-9000.

R.L. Rasmus Auctioneers, Inc. was founded in 1981 to provide asset recovery and auction services to the legal, banking and business community. Emerging out of the technology and used equipment business, Rasmus has been unconventional in its approach to asset liquidation. Rasmus is one of a handful of liquidators who has combined the benefits of traditional liquidation techniques with the power of the internet to create a liquidation model which is fast, affordable, flexible, efficient and astoundingly effective.

SOURCE Rasmus Asset Advisors