Successful Business Closure: The Collaboration between Surplex and Timbertex

Whether due to a lack of successors in family businesses, retirement, or a change in management direction - for some companies, there is no other way than to close down the business. However, a business closure is associated with many challenges. Employee layoffs, bureaucratic procedures such as deregistering employees, need to be dealt with. Company premises must be cleared, warehouses emptied, and any resulting waste properly disposed of. In addition to a large number of used manufacturing machines, valuable, sellable inventory and furnishings are also revealed. To ensure a clean and timely resolution of the business, it is worth collaborating with experts.

Business Closure at Timbertex

Due to a lack of successors, the Timbertex M?belfertigteile GmbH & Co. KG from Rheda-Wiedenbrück had to cease production in October 2022. A great loss for the region from a company with tradition.

Originally, in 1999, Managing Director Gerhard Ehemann took over the furniture component production at the Gütersloh location from the former Pfleiderer AG, Neumarkt, where he had already been the operations manager for 10 years. He restructured the company into Timbertex M?belfertigteile GmbH & Co. KG. In 2006, the production was relocated to Rheda-Wiedenbrück, where it established itself as an important player in furniture production. Timbertex produced furniture components, complete furniture, as well as disassembled furniture, and in recent years, focused particularly on object and store construction, as well as office equipment.

The search for a successor began early on through discussions about a sale with continuation of the activities, however, despite numerous negotiations, no suitable partner could be found. Timbertex had no other choice but to carry out the business closure, which included the liquidation of the company's inventory. Around 300 machines had to be sold and the production facilities had to be cleared by early 2023. It was a mammoth task, for which Timbertex sought professional support.

Together with Surplex for on-time clearance

"After having already had positive experiences with Surplex during the purchase of a drilling machine, I knew immediately that the experts of the industrial auction house were the ideal partner for the project," says Gerhard Ehemann, managing director of Timbertex M?belfertigteile GmbH & Co. KG. Surplex offers its customers a comprehensive solution: from the valuation of used machines, to their sale, and finally the handover of the broom-clean property on a fixed date.

"A project of this size always starts with an honest and realistic assessment of the machine values and expected sales proceeds," says Norbert Laumeier, project acquisition manager. "This is the only way we can establish a solid basis of trust to work together."

The machine inventory of Timbertex consisted of a mix of newer and older machines, which were regularly maintained and renewed. However, not only the large mix of machines was a challenge for the team led by project manager Ludger Reuther from Surplex. "Especially around the turn of the year, it's often difficult to organize the dismantling and loading," explains Reuther. "Many providers are fully booked or take time off during the holidays. Fortunately, we have a large network of logistics contacts and also offer our own dismantling service."

Finally, the hall could be handed over on time. And Gerhard Ehemann is more than satisfied with the expected sales revenue: "The targeted auction result was even significantly exceeded. A complete success."

Full-service partner with a European network

For over 20 years, the industrial auction house Surplex has been one of the most important full-service partners when it comes to business closures, restructurings, or insolvencies. Surplex offers customized solutions to effectively address the priorities of its customers. In addition, with its 16-language platform and locations in 16 European countries, Surplex reaches a large audience, even outside its own region. This advantage was also evident in the auction of Timbertex machines: a total of 6,166 bids were made by 410 auction participants from 45 countries. "I am very satisfied with my cooperation with Surplex. We were able to meet all deadlines on time, cover the usual costs with the proceeds, and thus make the difficult step of business closure a little easier," concludes Ehemann.