Buying stock from a closed business

Buying stock from a closed business

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JCKST1

Original Poster:

966 posts

150 months

Wednesday 23rd August 2023
quotequote all
A supplier we often used based in Austria has since gone bankrupt owing approx 9mil euro. They were a big firm and its a shock they have ended up this way but it appears everything on the surface was just for show.

We know they have a huge amount of stock which will be held in their warehouse in Austria and a law firm local to them has been appointed to handle this.

We have reached out to them but not had a reply yet, we basically just expressed our interest in purchasing this stock or asked where it would be auctioned so we can look in to it.

We haven't really done anything like this before so how would it work, would the company handling the liquidation just pass it on to an auction company to clear, is it cheeky we asked about this stock or is that standard practice?

Any other tips on how to handle it as it could be a very lucrative deal for us and hopefully our offer would be fair meaning some of the companies owed money would get it back.