PPL Group announced it executed a successful two-day auction, selling over 1,000 lots of equipment and inventory, including fabrication, welding and laser cutting machinery, as well as more than $1.5MM of kitchen appliances including refrigerators, freezers and fryers for a Florida company that was known as the largest American manufacturer of food trucks.
PPL’s strategy on the equipment and inventory sales maximized the asset recovery, exceeding appraised values for the primary secured lender and PSMI lenders.