The Live Auction for the insolvency of Be Stitch – Indústria Têxtil Lda (3963/23.4T8GMR) will take place on October 25th, 2024. The event will be held at the Hotel de Guimarães (Rua Eduardo Manuel de Almeida, 202, 4810-440 Guimarães). It is set to start at 2.30 p.m..

Overall, there are 2 production units for sale: dyeing and finishing, and weaving and confection/ logistics (sold as two lots). Additionally, light and heavy vehicles will be presented to the market (sold lot by lot). The total evaluation of the assets is of €1,736,535.00 (Total Estimate Value).

The 2 production units of Be Stitch include machines and equipment supporting the textile industry
The 2 production units of Be Stitch include machines and equipment supporting the textile industry

The production unit 1 (lot 1), located in Lordelo, Guimarães, is dedicated to the area of dyeing and finishing. This lot is valued at €746,365.00 (Estimate Sale Value). Currently operational, this unit has a lease agreement for five years (starting on 01/06/2016). The renewal is automatic (1 year) and at a monthly rent of €4,000.00.

In brief, Lot 1 will be sold as a single lot and it includes:

  • Machines and equipment supporting the textile industry;

  • Other industrial equipment;

  • Office equipment;

  • Electric vehicle chargers;

  • More than 2,230 solar panels – covering 21% of Be Stitch's energy needs.

The production unit 2 (lot 2) concerns the weaving and confection/logistics segment. It is valued at €940,020.00 (Estimate Sale Value). Located in Gondar, Guimarães, this unit is similarly operational. The lease agreement for this unit lasts for three years (starting on 01/02/2017). The renewal is automatic (1 year) and at a monthly rent of €6,776.00.

Therefore, Lot 2 will also be sold as a single lot and it includes:

  • More than 30 flat looms;

  • Machines and equipment supporting the textile industry;

  • Stock of raw materials;

  • Other industrial equipment;

  • Office equipment;

  • Electric vehicle chargers.

There are more than 30 flat looms for sale in Be Stitch's production unit 2
There are more than 30 flat looms for sale in Be Stitch's production unit 2.

About Be Stitch

Be Stitch – Indústria Têxtil Lda was founded in 2003 and specialises in homewear for bedrooms, living rooms, and kitchens. The main raw materials used are primarily linen, one of the world's most noble organic materials. In addition, they use natural fibres with unique structures such as hemp, wool, cotton, and bamboo.

With over 20 years in the business, Be Stitch has participated in numerous national and international trade fairs. According to Exame magazine, published in 2019, this textile company from Guimarães was ranked 4th among the top 100 fastest-growing companies by 2017.

The catalogue which the assets can be consulted here.

Inspections

Lastly, interested parties are advised to inspect the assets prior to the auction. Asset visits are scheduled for the following days:

  • October 22nd (Tuesday), from 2:30 p.m. to 5:00 p.m.;

  • October 25th (Friday, auction day), from 10:00 a.m. to 12:00 p.m..

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Article by Cloe Mattos by LEILOSOC® dated October 14th 2024