FARAME INSOLVENCY IN PUBLIC AUCTION WITH OVER 3 MILLION

The In-Person Auction of FARAME SA insolvency (17761/23.1T8SNT insolvency takes place on the upcoming June 12, 2024, Wednesday, at 2:30 PM. The event will be held at the insolvent's premises, in Rio de Mouro, Sintra (Avenida Major General Machado de Sousa, 27).

The insolvent's liabilities consist of a complete and operational Industrial Unit for the Logistics and Storage Sector. The assets are valued in total at 3,542,291.68 € (Base Value), with a Minimum Value of 3,040,747.68 €.

The 119 lots can be viewed here. For sale include an industrial property, movable goods, and industrial property.

The Industrial Warehouse includes outdoor space, 2 loading docks, a guard house, and a wastewater treatment plant (ETAR), and is located in Rio de Mouro. It is a large property, as can be seen by the areas: 19,400.00 m² (total) and 7,450.00 m² (covered). Its Base Value is 3,343,626.68 € and the respective Minimum Value is 2,842,082.68 €.

The 118 pieces of logistics and storage equipment and machinery are valued globally at 198,665.00 € (Base Value). They can be bid on individually (lot by lot) starting from 50.00 € (for example, the various Pallet Rack Lots).

Among the movable assets, welding robots, zinc plating lines, painting lines, and mesh lines, stock, and raw materials stand out. In addition, it will be possible to bid on furniture, IT equipment, and the national brand “FARAME”.

The sale of the complete Industrial Unit constitutes an investment advantage. For the investor, the return comes from the possibility of continuing the company's activity.

The catalog with all assets can be viewed here.

About Farame

Founded in 1983, Farame manufactured and marketed complete ranges of fixed or mobile logistics products for transport and storage. In fact, its wide range of products in wire, tube, and steel sheet also incorporates plastics and woods. In addition, it developed products with surface coatings (zinc plating and painting) for various market segments.

With over 40 years, from 2009 to 2012 it was known in the market as Caddie Portugal (French Group Caddie). However, it returned to the name Farame in 2012, the same year it became part of the French Group Aryes.

The assets of the company headquartered in Sintra meet the needs of multiple sectors. Namely: logistics and storage, automotive, industry, viticulture, and agri-food.

Visits

First of all, it is advisable to visit the assets in loco. Thus, these take place on the following days:

• June 11 (Tuesday), from 10:30 AM to 12:30 PM and from 2:00 PM to 5:00 PM;
• June 12 (Wednesday), from 10:00 AM to 12:00 PM.

Pre-Bids

Investors can make pre-bids on the auction page (here), between June 5, at 2:30 PM, and June 11, at 2:30 PM. Above all, pre-bids allow interested parties to make offers of interest prior to the start of the In-Person Auction.

On the day of the Auction, Lots with pre-bids will be presented with an Opening Value corresponding to the Proposed Value. Therefore, for those Lots, bidding will begin in the Room from the pre-bid value.

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Article by Cloe Mattos by LEILOSOC® dated June 7, 2024