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Lincolnton Furniture equipment goes on the block

 

 

 

LTN Staff Equipment at the Lincolnton Furniture Company plant has been put up for auction through Industrial Recovery Services.

LTN Staff
Equipment at the Lincolnton Furniture Company plant has been put up for auction through Industrial Recovery Services.

 

 

Staff report

 

The machines once used at the Lincolnton Furniture Company, which closed earlier this year after a year of operation, will soon have new homes.

The equipment, from power tools and forklifts to $250,000 woodworking machines, is being sold off through an internet auction by Industrial Recovery Services. The auction began on June 6, and is closing on June 21. IRS Auctions is handling the bidding process on behalf of Carolina Trust Bank, and entered the facility almost two weeks before the auction began, to take time to assign lot numbers and photograph the auction’s 235 items.

The Lincolnton Furniture Company, a venture spearheaded by Bruce Cochrane, closed in January. Cochrane was invited to the White House and attended President Barack Obama’s 2012 State of the Union Address and was praised for bringing manufacturing jobs back to the United States.

Cochrane was quoted in numerous media outlets regarding the difficulty of securing capital for the venture ahead of the plant’s opening.

Carolina Trust Bank and the owners of the plant at Cochrane Road in Lincolnton need the warehouse space emptied so a new tenant can begin operating.

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