How to sell your bankrupt stock
Author: John Coorey
If your company is going into liquidation it is more than likely that you have been left with excess stock that you do not know what to do with. There is no need to panic. Bankrupt stock can actually be a huge advantage if you know how to sell it effectively. Selling bankrupt stock is much easier, faster and more cost-effective than most people think. Here are the four key steps to getting rid of excess stock:
Act fast
Don’t hang around. As soon as you know for sure that your company is going into liquidation begin making moves to sell the stock that you have remaining. By doing this, you will ensure that you are able to take control of negotiations over price. Stock that is sold after bankruptcy is much further out of your control and you may be forced to sell at an unreasonably low price. Many companies report receiving only cents on the dollar for bankrupt stock. If you sell prior to bankruptcy proceedings you also give yourself the best chance of being able to direct where the money should go. You will be able to pay off the debts that are most important to you and appease your most important creditors.
Take inventory of your bankrupt stock
It’s really important that you take a careful inventory of all of your stock before you consider selling. That way you will have a very clear picture of what you have to sell and how much you hope to achieve from it. This will help you when you negotiate prices. Remember all the stock that is currently on order. If you can include this in your sales negotiation you will add substantial value and avoid any wasted opportunities.
Make sure you sell your bankrupt stock to someone you trust
When considering the best buyer for your excess stock make sure that you find someone who has experience in the field. Experienced stock dealers will have a fantastic contact book full of potential buyers and will see the true value of your product. They will be able to research the current market on your behalf and give you an honest report on current sales values. The offer they make you should be based on this research. Ask questions. An honest buyer will be able to provide you with all the answers you need.
All bankrupt stock has value
No stock is worthless. If a product seems not to have value at first glance do not make the mistake of disregarding it completely. Great stock buyers will be able to think laterally. Even empty bottles and extra packaging have made money for companies going into bankruptcy before, so think creatively and try to get the cash out of as many of your assets as you can prior to liquidation.
Contact us to sell your bankrupt stock
Selling off your bankrupt stock can be very profitable if you approach it in the right way. Stay focused on getting as much cash for your stock as you can and make smart business choices that will help you to keep control of the companies assets and use them in the most positive way possible. If you would like to sell your bankrupt stock to us, contact us and let us know your excess stock details.
Author: John Coorey
Managing Director
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