Date: 8 March 2011
It will all be auctioned off to glass industry players and other interested buyers on March 16. Asset Engineering is overseeing the liquidation.
The longstanding Guelph-based company — with local roots extending back to the 19th century — was forced into receivership by its debtors late last year. Operations in both Guelph and Collingwood were affected, throwing about 100 people out of work.
Barber Glass The assets of Barber Glass Industries will go up on auction March 16. The sophisticated glass manufacturing business was forced into receivership by its debtors late last year.
Rob O'Flanagan/Guelph Mercury
Company owners John Barber and wife Susan Barber bought back the assets of Barber Glass Retail from the receiver and were able to save the historic Suffolk Street business, which began over 125 years ago. But the couple’s repeated efforts to reacquire the assets of Barber Glass Industries failed as the deadline for liquidation came and went.
“A public auction has been announced,” said Glen Shoniker, an official with Asset Engineering. “There are people within the industry that have been notified. They will come on the day prior to the sale to inspect everything they would like to bid on.”
Large-scale glass cutting, cleaning, printing, shaping and handling equipment will be auctioned off, along with tools, equipment and office supplies. There is also a large quantity of glass inside the facility.
“The industry is a quite specific one, so there will be people who will be looking at both very specific production-type equipment, and they also have a very wide range of everyday-type factory support equipment as well,” said Shoniker, speaking of the factory’s contents.
Shoniker said the auction has generated interest throughout North and South America, and Europe. On Monday, about four men were working in the factory, getting the equipment ready of the sale.
John Barber made three attempts to regain control of Barber Glass Industries during the receivership proceedings, and his wife made another. All were deemed unacceptable to the receiver because they were conditional on financing and failed to provide a cash deposit, court documents indicated.
The company owned well over $15 million to creditors. Documents showed the Bank of Montreal had advanced $7.1 million to the company, while Roynat, another lender, had advanced $8.5 million. GE Canada Equipment Financing was also owed $450,000. Another 10 creditors were listed, including Susan Barber and Barber Group Investments Inc., Bystronic Glass and Lisec America.
The company owned $825,000 in unpaid property taxes and close to $1 million to Canada Revenue Agency.
roflanagan@guelphmercury.com
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