Gordon Brothers, Ritchie to Sell Phoenix of Tennessee Assets

Gordon Brothers announced it has received bankruptcy court approval to sell certain assets owned by Phoenix of Tennessee as part of an alliance with Ritchie Bros. Auctioneers.

Phoenix of Tennessee is a full-service telecommunications construction company that filed bankruptcy in the Middle District of Tennessee in September following a decline in its business.

Gordon Brothers and Ritchie Bros. will sell the assets on an agency basis at auction. The assets include pickup trucks, service vehicles and trailers. The auction will take place in Nashville, TN on December 21, 2017.

Since 1903, Boston, MA-based Gordon Brothers has helped lenders, operating executives, advisors, and investors move forward through change. The firm brings a powerful combination of expertise and capital to clients, developing customized solutions on an integrated or standalone basis across four service areas: valuations, dispositions, operations and investments.

Established in 1958, Ritchie Bros. is a global asset management and disposition company offering customers end-to-end solutions for buying and selling used heavy equipment, trucks and other assets. The company’s selling channels include: Ritchie Auctioneers, IronPlanet, Marketplace and Mascus, a European online equipment listing service; and Ritchie Bros. Private Treaty, offering privately negotiated sales.

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