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Saturday, 10 December 2011

Bargain-hunters flock to Solyndra auction

Tags: Solar Energy Companies, Solar Energy Information
If you’re in the market for an office chair, an automated inline glass coating system, or a souvenir T-shirt from a defunct solar company, you’re in luck.

Solyndra , which filed for bankruptcy Sept. 6, is up for sale in bits and pieces. An auction of the Fremont-based solar company’s “non-core” assets, ranging from break room microwaves to computers to expensive manufacturing equipment, begins Wednesday.

Potential buyers were able to browse a vast array of offerings on Monday and Tuesday, and a steady stream of people meandered through the company’s warehouse spaces with auction guides in hand, circling items they wanted to bid on.

A full list of available items and information about bidding in person or online can be found online.

The rest of Solyndra, including its intellectual property and real estate, is scheduled to be auctioned on Nov. 18.

Solyndra hired auction firm Heritage Global Partners, a San Diego-based firm with offices in Foster City, to run this week’s sale. Kirk Dove, a managing partner at Heritage Global Partners, said he expects 1,000 people to attend the auction on Wednesday and Thursday in person, and another 2,000 to participate online.

“It’s just a big sale with a lot of recognition,” Dove said.

His company has handled many large sales in solar and other industries, including an auction earlier this year for BP Solar, which was closing a solar manufacturing facility. But Dove said this is his firm’s highest-profile sale since it auctioned off Enron’s assets.

Dove said he expects the auction to be a “multimillion dollar” event, though he couldn’t say more specifically how much he expects it to bring in since the list of goods to be auctioned off is still being finalized. Solyndra had $859 million in assets and $749 million in debt as of Jan. 1, according to court filings.

via Bargain-hunters flock to Solyndra auction – Silicon Valley / San Jose Business Journal.

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