PremierXD assets to be sold in online auction

The shuttered store fixture manufacturer closed three Virginia locations in September, leaving 190 unemployed.

Published December 4, 2019 by Sydney Lake

More than 1 million square feet of manufacturing equipment will be auctioned off next week, assets that belonged to New York-based store fixture manufacturer PremierXD, which shut down operations in September. Nearly 200 people in Henrico County were laid off as a result.

The auction will be online only, starting at 10 a.m. Tuesday, Dec. 10 for PremierXD’s three Virginia plants. Equipment from the company’s former plant in Washington state will be auctioned the next day, at 1 p.m. Eastern time.

Inventory will be available for in-person inspection on Monday, Dec. 9 from 10 a.m. to 4 p.m. at the former Virginia plants: 4650 Oakleys Lane, Richmond, for manufacturing equipment; 2400 Distribution Lane, Richmond, and 3910 Technology Park, Sandston, for distribution equipment.

GA Global Partners, an asset-disposition company, and Onyx Asset Advisors LLC, a financial services company, announced the auctions Wednesday. Items for sale will include automatic panel saws, beam saws and machining centers, press brakes, laser cutters and forklifts. Other store fixture products will be available through direct sale.

PremierXD, which previously operated as Premier Store Fixtures, was unable to secure funding for new management in September. Its retail clients had been closing over the past three years, with more than 250 million square feet of selling space being cleared in 2017 and 2018, according to a news release from GA Global Partners.

“The selection of available assets at this sale is quite impressive,” Onyx Asset Advisors managing partner K. Kevin Otus said in a statement. “There’s literally something for everyone — from state-of-the-art machinery to a tremendous inventory of raw uncut laminate and wood products being sold in large volume lots.” Advanced bidding is open, and bidders can pre-register online.