Barber Glass Assets to be Sold at Auction
February 2, 2011
An Ontario Court has approved a motion made by Grant Thornton Ltd., in its capacity as the court-appointed receiver of Barber Glass, to auction off the assets of Barber Glass' facilities in Collingwood and Guelph, Ontario.
"The Ontario Court granted the relief sought by the receiver in respect of the assets of Barber Glass," Daniel Sobel, manager, specialist advisory services for Grant Thornton, told USGNN.com this afternoon.
Dates will be posted online by the two auctioneers involved. Asset Engineering will be auctioning the Guelph, Ontario, facility assets. The Danbury Group will be auctioning the Collingwood, Ontario, facility assets.
The 127-old company was placed into receivership on November 15 and Grant Thorton Limited LLC was named court appointed receiver and asset manager.
Barber and his wife and business partner Susan were successful in purchasing the assets of Barber Retail for $335,000 in December and were hoping to make a purchase of all the assets of Barber Glass Industries as well. Court documents show the Barbers have made five such unsuccessful offers over the course of the past few weeks.
John Barber had not responded to requests for comment as of press time.
Stay tuned to USGNN.com for further details as they emerge.