Lauren Engineering assets being sold

An auction company sold the assets of Lauren Engineers and Constructors in an online auction that ended on Thursday.

“They just filed for bankruptcy, a Chapter 7 trustee has been appointed, and we are the auction company that was hired by the trustee and court approved to conduct an auction of Lauren’s remaining physical assets. said Kyle Rosen of Rosen Systems, Inc., an industrial auctioneer, appraiser and liquidator in Dallas.

According to Federal Court documents acquired by The Reporter-News, a voluntary bankruptcy application was filed on April 8, signed by Jack Shoemate, the company’s chief executive.

Austin’s Kell C. Mercer is listed as the lawyer in action.

“It’s a huge assortment of equipment. There are over, I think, 1,500 lots in total, ”Rosen said of the items available. “Everything from welders and metal fabrication equipment to construction equipment, to trucks and trailers, to material handling, to inventory, to all the different types of equipment that they used in their various processes. “

Recent history

Shoemate became the CEO of the company after Charles “Cleve” Whitener, CEO and founder of Lauren, died in a light plane crash that killed two other people in February 2020.

After:Friend of many, Charles ‘Cleve’ Whitener remembers

Cleve Whitener

No specific reason for the bankruptcy was mentioned in the documents, which indicate that a decision to file a claim for damages was approved by unanimous consent of the board of directors of the company as “in the best interests of the company. company, its creditors, shareholders and other interested parties. “

The estimated number of creditors is listed in the documents as 200-299.

According to US Bankruptcy Court documents, North Texas District, August 12 is the last day for creditors to file a proof of claim.

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