BE STITCH TEXTILE AT PUBLIC AUCTION FOR OVER €1.7 MILLION

The in-person auction for the insolvency of Be Stitch – Indústria Têxtil Lda (3963/23.4T8GMR) takes place on October 25, 2024. Thus, the event, which starts at 2:30 PM, will be held at the Hotel de Guimarães (Rua Eduardo Manuel de Almeida, 202, 4810-440 Guimarães).

In summary, 2 production units for dyeing and finishing, and for weaving and manufacturing/logistics (2 single lots) are for sale. Additionally, light vehicles and one heavy vehicle will be presented to the market (sold lot by lot). The assets have a total asset valuation of €1,736,535.00 (Total Base Value).

The production unit 1 (lot 1), located in Lordelo, Guimarães, is dedicated to the dyeing and finishing area. This lot is valued at €746,365.00 (Sale Base Value). Currently in operation, this production unit has a 5-year lease agreement (started on 01/06/2016). Renewals are automatic (1-year periods) for a monthly fee of €4,000.00.

In short, lot 1 is sold as a single lot and includes:

• Machines and equipment supporting the textile industry;
• Other industrial equipment;
• Office equipment;
• Electric vehicle chargers;
• More than 2,230 solar panels – which correspond to 21% of Be Stitch's energy needs.

The production unit 2 (lot 2) covers the weaving and manufacturing/logistics segment. It has a valuation of €940,020.00 (Sale Base Value). Located in Gondar, Guimarães, this production unit is also currently in operation. Its lease agreement has a term of 3 years (started on 01/02/2017). This is renewable for successive 1-year periods for a monthly fee of €6,776.00.

Therefore, in Lot 2, sold as a single lot, the following are included:

• More than 30 straight looms;
• Machines and equipment supporting the textile industry;
• Raw material stock;
• Other industrial equipment;
• Office equipment;
• Electric vehicle chargers.

About Be Stitch

Be Stitch – Indústria Têxtil Lda was founded in 2003 and specializes in home textiles for the bedroom, living room, and kitchen. The base raw materials used are essentially linen, one of the noblest organic materials in the world. In addition, they use natural fibers with unique structures such as hemp, wool, cotton, and bamboo.

In over 20 years of activity, Be Stitch has participated in various national and international trade fairs in the sector. As published by Exame magazine, in 2019, this Guimarães-based textile company was highlighted in 4th place as one of the 100 companies with the best growth rate up to 2017.

The catalog with the assets can be consulted here.

Visits

Finally, interested parties must inspect the assets prior to the auction. Visits to the assets will take place on the following days:

• October 22 (Tuesday), from 2:30 PM to 5:00 PM;
• October 25 (Friday, auction day), from 10:00 AM to 12:00 PM.

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Article by Cloe Mattos by LEILOSOC® dated October 14, 2024