Bankrupt carpet manufacturer McThree’s machinery auctioned online

Earlier this year, the textile company McThree Carpets in Waregem filed for bankruptcy. The complete machinery is now being auctioned online through Europe’s largest auction platform, Troostwijk Auctions. This unique auction is expected to attract both national and international buyers.

Founded in 1989, McThree Carpets became a specialist and leading manufacturer of machine-woven carpets for the residential market. Their collections were being sold in over 70 countries. However, the company faced difficulties, and efforts to find a buyer were unsuccessful. As a result, McThree Carpets filed for bankruptcy at the beginning of this year. This resuls in 278 employees losing their jobs. The factory’s inventory is now being auctioned online.

Exceptional Auction

It is rare for a complete company, including a yarn department and a carpet weaving mill, to come on the market.

“Given the unique nature of the auction, we expect significant interest from carpet weavers around the world,” says Joos Dauwe, Regional Manager at Troostwijk Auctions.

A total of almost 1.500 lots will be auctioned. This includes Vandewiele carpet weaving machines, packaging lines, winders, finishing lines, extruders, shearing machines, edging machines, and heatset lines.

On April 22 and April 29th, from 9 am to 4 pm, there will be a viewing day at the McThree Carpets factory building.

Auction can be discovered here.