Fabric Manufacturer, Knitting, Factory Asset Sale

Los Angeles, CA (Los Angeles County)

Fabric Manufacturer, Knitting, Factory Asset Sale

Asking Price:$1,990,000

Established:2007

Fabric Manufacturer, Knitting, Factory Asset Sale

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Asset Sale Description

Novelty knitting specializing in custom knitted fabrics with current appraised assets of furniture and fixture $1.6M plus $700K of inventory at cost. Seller is willing to provide clients list and contacts for the new Buyer. Seller is also willing to stay on board for one year with salary. This company is currently operating.

Profile: Knitting Company, established 2006

Produce novelty high end European style and jacquard knitted fabrics.

Biggest supplier of 14 & 16 GG of three end French terry & fleece in Southern California, capable of producing up to 10,000 yards of 3 end fabrics a day.

51 Knitting Machines, 70% of the machines are less than 7 years old.

Computerized full jacquard machine.

Machinery gauges from 28 GG to 1.5 GG in double & single knit.

Some machines are custom made to produce fancy novelty fabrics.

Machinery includes yarn twisting with 80 heads as well as yarn doubling equipment.

Machinery installed in enclosed compartments to avoid yarn contamination.

Inventory of approximately 4000 rolls of original novelty designs for customer sampling.

Office & Textile Management production software.

Delivery truck included.

12 Employees include:

Two experienced technicians.

One assistance technician.

Shipping & receiving manager.

Quality control department.

Sample department.

Book keeper.

Production manager.

Assistant production manager.

Driver.

Sales persons.

Sales manager.

8 Machine operators.

Customers include: Guess, Target, Velvet, and More... The owner is willing to stay one year to assist a new owner.
#01984153JH

Detailed Information

Reason for Selling:
Retire

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William Park

Asset Sale Listed By:
VR Business Brokers

VR Business Brokers

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Memberships & Certifications:
Indicates membership in the International Business Brokers Association (IBBA). The IBBA is the only certifying organization for Business Brokers and Intermediaries who assists people in buying or selling a business.

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