Tiger Group Sets Auction for Assets of Textile Printing Company
CORONA, Calif. (9/22/15)— By order of the assignee for the benefit of creditors, Tiger Capital Group’s Remarketing Services Division and North East Printing Machinery Inc. will conduct a live webcast auction on Sept. 29 for high-speed sheet-fed presses, dye sublimation heat presses, screen printing equipment and various other production, materials handling, office and rolling stock assets that had been owned by garment industry supplier Avid Ink. The Corona-based company specialized in sublimation printing, a technology that reproduces photo-quality images on fabrics.
For about two decades, Avid Ink was a world leader in designing, creating and transferring hyper-real photographic and other images to apparel. Launched in 1997, the company initially used its sublimation and transferring technology to put designs on snowboards for a local manufacturer, but soon shifted to serving apparel manufacturers. Avid’s designs were featured on clothing sold in retailers ranging from Target and Kohl’s to Macy’s and Neiman Marcus.
Live bidding will take place from Avid’s headquarters, 231 N Sherman Ave. in Corona, beginning at 10:30 a.m. (PT) on Sept. 29. Those intending to bid online during the auction are required to register at www.SoldTiger.com. Meanwhile, pre-auction bids can be submitted online, beginning Sept. 22, at www.SoldTiger.com. Previews of the assets being offered will be held Sept. 28, from 10:00 a.m. to 4:00 p.m. (PT), at Avid’s headquarters.
“This sale represents a tremendous opportunity for textile and garment manufacturers, commercial printers and small businesses of all types,” said Jeff Tanenbaum, President of Tiger Remarketing Services. “While the company’s primary focus was on heat transfer and silk screening for printed textiles, it also produced its own commercial print products and, therefore, had equipment suitable for printers, graphic artists, and small businesses.”