There is an auction currently underway for the assets of JL Furnishings and its Elite Leather Co. subsidiary.
The auction is taking place online, with bidding scheduled to close on Tuesday next week. A catalogue, complete with photos, is available on the website. An opportunity to inspect the assets will be given to the public on Monday at the JLF location in Rancho Dominguez, California, US.
Tranzon Asset Strategies was appointed by the California Superior Court of Los Angeles County to conduct the auction.
The auction includes more than 1,100 lots of woodworking, metalworking, painting, fabric/leather cutting and sewing equipment; forklifts and warehouse equipment; finished goods and work in progress; raw materials including wood, leather and fabric; and the executive offices.
“This sale represents a tremendous opportunity for furniture manufacturers and buyers of industrial machinery and equipment,” Tranzon President Michael Walters in a release. “JLF had an extensive operation contracting with the hospitality industry and manufacturing residential leather upholstery. The scope of the sale is significant, with many pieces of high-end manufacturing equipment.”
After it acquired Elite Leather in April 2017, JLF had more than 700 U.S. employees and six factories in California and North Carolina. JLF Collections was founded in 1997 as JL Furnishings LLC, a domestic manufacturer of seating for the hospitality industry and went on to offer indoor and outdoor furniture and lighting for both programme and custom design projects.
