HARRISONBURG, Va. (May 15, 2003) — The remaining assets of Ray Carr Tires Inc. will be sold at auction June 2-3 in Harrisonburg.
After the auction, the business will be voluntarily closed, said Carl Miceli, vice president of auction company American Auctions & Appraisals Inc. in Hunt Valley, Md. He said Ray Carr Tires is not in bankruptcy. The company operated wholesale, retreading, retail and repair services.
Ray Carr Tires' demise began in November, when the company suspended operations at many of its stores and its retread plant. By January, the Harrisonburg-based company had sold four and closed two of its seven retail stores. The retread plant and its accompanying store remained. A spokesman said in January that Ray Carr Tires was exploring options for its wholesale business, including the plant and store.
The auction will cover the roughly 20 acres encompassing the retread plant and store in Harrisonburg, plus a small site in Charlottesville, Va. Other property—including manufacturing lines, tire repair equipment, office furniture and fixtures, more than 120 trucks and inventory—also will be sold.
Mr. Miceli said the two-day auction will handle the manufacturing equipment, personal property and real estate on the first day, followed by the trucks and inventory on the second day. The auction company is not setting suggested bids for the property.
Several liens are attached to the property, Mr. Miceli said, but he expects reasonable sales to be approved immediately.
“We're confident we can get enough money, (and) the creditors will allow it to be sold,” he said.
For more information about the auction, click on www.americanaai.com.