The offices of Truland Group, the Reston-based electrical contractor that filed for Chapter 7 bankruptcy in July, are about to get a little emptier.
Rasmus Auctions has begun selling off desks, chairs, coffeemakers, televisions, bookcases, conference tables and other items from Truland’s corporate headquarters and warehouses. The online auction for the office furniture, part of the liquidation of Truland’s assets as the company winds through bankruptcy, began this week and will close Tuesday.
Rasmus was hired by Ray Yancey, the receiver managing the liquidation of Truland’s assets for BMO Harris Bank, Truland’s largest secured creditor. Yancey’s role is to recover Truland assets for both secured and unsecured creditors. Proceeds from the auction will go toward BMO Harris, which is owed about $27 million, according to documents filed in U.S. Bankruptcy Court for the Eastern District of Virginia.
Prior to filing for bankruptcy on July 23, Truland was the 10th largest electrical contractor in the United States and had roughly 1,000 employees. The contractor was working on more than 250 construction projects around the country, including many high-profile developments in the Washington area such as the Marriott Marquis, CityCenter DC, George Washington University’s Science and Engineering Complex and the Inova Women’s and Children’s Hospital in Fairfax.
Rasmus also has begun auctioning off equipment from Truland’s warehouse in Alexandria. The items include forklifts, power tools, building materials, pallet racks and auto repair equipment. That auction will end Thursday. Plans also are underway to sell the contents of the company’s Baltimore warehouse in October, but the dates have not been finalized.
Last month, an auction for dozens of Truland’s trucks, trailers and vans collected about $220,000. The money will go toward paying former Truland employees who were not paid for their final days of work, according to the attorney representing the trustee for the Truland estate.
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