NOTICE IS HEREBY GIVEN that at or after 9:00 a.m. (ET) on June 3, 2021, Wells Fargo Bank, N.A., a national banking association (“Secured Party“), intends to commence an auction (“Auction“) at which it will offer to sell, or cause to be sold, at a public sale conducted in accordance with Article 9 of the Uniform Commercial Code, as enacted in all applicable jurisdictions (“UCC“), through telephonic and/or online participation (“Public Sale“), all of the right, title, and interest of Southeast Frozen Foods Company, L.P., Southeast Wholesale Foods, LLC, SNA Corporation, PITA, LLC, and Jackson Hole Investments Acquisitions L.P. (collectively, the “Companies“), in, under, and to certain tangible collateral owned by Companies that was previously used in their distribution business, which generally includes pallet racking and material handling equipment (collectively, the “Sale Assets“).
Prospective bidders may contact Michael Presto from Great American Global Partners ([email protected]) to register for and otherwise make arrangements to diligence the Sale Assets and participate in the Auction. Additional information and access may be found at https://www.cagp.com/events/material-handling-equipment.
Secured Party has extended secured loans and certain other financial accommodations to Companies, and Companies have granted Secured Party continuing security interests in, and liens on the Sale Assets to secure the full payment and performance when due of all obligations owned to Secured Party. As of the open of business on May 24, 2021, the aggregate principal amount owed by Companies to Secured Party was not less than $4,013,000. Companies are in default of their obligations to Secured Party.
The Sale Assets may be sold in one or more lots as Secured Party may determine in its discretion, and the Sale Assets may be subject to certain additional inclusions and exclusions to be negotiated with Secured Party.
The SALE Assets ARE AND will be offered for PURCHASE at the PuBLIC Sale on an “AS IS, WHERE IS” basis, with all faults and without ANY recourse, representation, guarantee, or warranty of any kind or nature whatsoever, whether express, implied, or statutory, including, without limitation, any REPRESENTATION, GUARANTEE, OR warranty AS TO, OR relating tO, merchantability, fitness for a particular purpose, quiet enjoyment, title, possession, or the like.
Secured Party reserves the right, in its discretion, to withdraw all or any portion of the Sale Assets from the Public Sale at any time. The Sale Assets will be offered and sold at the Public Sale for cash only unless otherwise expressly agreed to in writing by Secured Party. All offers must contain no contingencies that are unsatisfactory to Secured Party, and all offers will be subject to such other bid procedures as Secured Party may announce from time to time.
Secured Party reserves the right to cancel the Public Sale at any time, or to cause the Public Sale to be adjourned from time to time, without further notice or publication other than by announcement at or prior to the Auction. Secured Party reserves all of its rights against Companies and all other obligors for all deficiencies with respect to the Indebtedness that may remain after the Public Sale. Secured Party will apply proceeds received for the Sale Assets in accordance with the terms of its loan documents and applicable law. Companies are entitled to an accounting of the unpaid indebtedness owing by Companies to Secured Party, which accounting may be obtained free of charge by contacting Secured Party through its counsel.
DailyDAC™ is the oldest, most trusted, and most widely used provider of public notices of asset sales and case commencements, and other important notices involving companies in financial distress in the United States and Canada. DailyDAC™ public notices are used by bankruptcy trustees, chapter 11 debtors in possession, federal and state court receivers, and secured parties disposing of their collateral under Article 9 of the Uniform Commercial Code or other state law trust (and their respective auction firms, law firms, and other agents). Learn more.
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