Properties

FOR IMMEDIATE SALE: OPERATING PHARMACY KNOWN AS “PHARMAHEALTH HAWTHORNE, INC.”

LOCATED AT 535 FAUNCE CORNER ROAD, NORTH DARTMOUTH, MASSACHUSETTS

THE SPECIAL EXAMINER HAS RECEIVED AN OFFER OF $125,000.00 PLUS THE VALUE OF THE INVENTORY, SUBJECT TO HIGHER AND BETTER OFFERS. ANY PARTY WISHING TO MAKE A COMPETING OFFER MUST DO SO BY CONTACTING THE SPECIAL EXAMINER AND DELIVERING A WRITTEN COMPETING OFFER AT LEAST $25,000.00 GREATER WITH A DEPOSIT OF $12,500.00 PLUS 10% OF THE INCREASE IN PURCHASE PRICE NO LATER THAN JULY 9, 2018 AT 4:00 P.M.

ASSETS INCLUDE GOODWILL, CUSTOMER LIST, STORE FIXTURES, PHARMACY EQUIPMENT, OFFICE EQUIPMENT, AND INVENTORY.

FOR MORE INFORMATION, CONTACT: Joseph M. DiOrio, Special Examiner DiOrio Law Office, 144 Westminster St., Ste. 302 Providence, Rhode Island 02903 401 632-0911 Office; 401 632-0751 Fax jmdiorio@dioriolaw.com

SALE HEARING AND AUCTION DATE IS JULY 11, 2018 AT 10:00 A.M. at TAUNTON SUPERIOR COURT, 9 COURT STREET,TAUNTON, MA 02780

Sale Held In Conjunction With: Aaron Posnik & Co., Inc. * MA Auc. Lic. # 161

Bankruptcy judge approves sale of Microfibres assets to Turkish company

On January 29, 2016, Microfibres, Inc. of Pawtucket, Rhode Island, Winston-Salem (NC) and Tupelo (MS) filed a Chapter 7 bankruptcy, case number 1:16-bk-10154, in the United States Bankruptcy Court for the District of Rhode Island.

Joseph M. DiOrio, Esq., of Providence, Rhode Island, was appointed Trustee that same day. See notice of bankruptcy here.

The assets of Microfibres, Inc. included: real estate located in Winston-Salem, North Carolina; Tupelo, Mississippi; and Pawtucket, Rhode Island; as well as inventory including raw materials and finished goods inventory, intellectual property and equipment.

A U.S. Bankruptcy Court judge has approved a Turkish textile company buying the assets of defunct Microfibres Inc., including its plants in Winston-Salem. Trustee Joseph DiOrio had valued the Microfibres assets at $7.46 million, of which $3.78 million is inventory, some of which could be sold in separate transactions. Also sold were 300,000 square feet of space on 10.2 acres in Pawtucket and a 31,000-square-foot warehouse in Lee County, Miss.

See full article from Winston-Salem Journal here: http://dioriolaw.com/2017/02/18/winston-salem-journal-bankruptcy-judge-approves-sale-of-microfibres-assets-to-turkish-company/ .