Nautica bankruptcy auction scheduled - Trade Only Today

Nautica bankruptcy auction scheduled

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The bankruptcy of Fort Lauderdale-based boatbuilder Nautica International includes an auction of its equipment in Hollywood, Fla., on Oct. 24.

The auction features forklifts, office furniture and molds that were used to make Nautica’s RIBs. The molds are being sold in one bulk package, according to the South Florida Business Journal.

Nautica was pushed into involuntary bankruptcy in February after company president Franco Rossi authorized a sale of assets to RIB Technologies for $250,000, the newspaper reported.

BankUnited had a lien on company assets connected to a $1.6 million line of credit.

Several vehicles and a boat already have been sold during the bankruptcy.

Click here for the story and here for bankruptcy information.

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