Environamics Prevails in Auction of Trainor's Modular Wall Assets
August 22, 2012

by Penny Stacey, pstacey@glass.com

The U.S. Bankruptcy Court for the Northern District of Illinois has issued an order authorizing the sale of certain of Trainor Glass' modular wall assets to Charlotte, N.C.-based Environamics Inc. A previously announced auction was held last week on August 17, but, according to court documents, no other bids besides that of Environamics were received.

"The sale of the purchased assets to Environamics is an exercise of the debtor's sound business judgment and is in the best interests of the debtor, its estate and its creditors," writes the court in its order authorizing the sale.

The asset sale includes all equipment located at Trainor's modular wall facility in Farmers Branch, Texas, all inventory, packaging and other personal property located at the facility, "the goodwill of the Trainor Modular Business," the trade name

"Trainor Modular Walls," [and] a copy of all computer files related to completed projects and projects in progress at Trainor Modular Wall business at the time the business ceased operations in February 2012. According to the order filed yesterday, the sale does exclude "certain software from the purchased assets," though details are not provided as to what this entails.

Environamics previously had made an offer of $800,000 for the asset purchase.