May 28, 2018
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Moosehead Furniture auction creates interest

By Diana Bowley, BDN Staff

MONSON, Maine — The coming auction of the Moosehead Furniture Co. is generating interest from across the country, a representative of Keenan Auction Co. said Wednesday.

The auction company has been retained by Machias Savings Bank to sell the well-known furniture company and its assets at an auction on Jan. 21.

The bank backed Tardy-Connors Group LLC, which in September 2007 saved the business from an earlier auction. The partnership between Newport attorney Joshua Tardy and former state transportation commissioner Dana Connors attempted to keep the business operating, but it became a victim of the poor economy.

Steve Keenan said the real estate would be sold in a separate bid, and the equipment inventory will be sold piecemeal in bids. A sealed bid will be taken only on the intangible assets of the business — the company’s name and Web site.

In addition, bids will be accepted for the entire business, Keenan said.

“We are doing a hybrid auction where we do a live auction and an online bidding component as well,” Keenan said. “Buyers will be able to log in on their computers, say in Seattle, Wash., and bid on Jan. 21,” he said Wednesday. Everything is being sold at the auction.

Keenan said bids will be tallied at the end of the event. If a bid on the entire package is higher than all other bids combined, then the business will be sold in its entirety, he said.


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