A Newcap sign outside of its Green Bay office. PC: Fox 11 Online
GREEN BAY, WI (WTAQ-WLUK) — The final auction in the court-authorized liquidation of Newcap, Inc.’s non-real-estate assets is underway.
The online auction features the contents of Newcap’s main office, located at 1540 Capitol Drive in Green Bay, marking the final facility to be liquidated as part of the multi-location bankruptcy liquidation project.
The Green Bay auction features 995 lots of assets, including clinic equipment and supplies, quality office furniture, and miscellaneous operational equipment and business assets. Four vehicles will also be offered, including a 2021 Chevrolet Express 2500 cargo van, 2013 Chevrolet Express 2500 cargo van, 2015 Ford Transit, and 2018 Ford F-350 Super Duty XL equipped with a service body.
The auction is currently open for online bidding and will begin closing on Tuesday, Nov. 10, at 6 p.m. Central Time with in person pick up scheduled for the following day.
While the Green Bay facility represents the final Newcap location to be liquidated, two additional standalone auctions will conclude the overall liquidation project.
The first is a 2023 Turtle Top mobile medical clinic built on a Ford F-550 motorhome chassis, with approximately 6,000 miles. This specialized vehicle is currently available for online bidding, with the auction scheduled to close on Thursday, Dec. 3. Interested bidders may arrange to view the vehicle in person at Titletown Auction Company’s warehouse on Ramada Way in Green Bay by contacting the company at (920) 632-4125.
The final auction will feature Newcap’s remaining technology assets, including laptops, tablets, smartphones, Apple iMacs, MacBooks, and other computers, electronics, and related equipment. These assets have been securely stored at Titletown Auction Company’s Green Bay warehouse, with online bidding expected to open in late November.
All auctions are open to the public, with bidding conducted exclusively online through Titletown Auction Company’s website. Lots will begin with a $2 opening bid and sell to the highest bidder regardless of price, with no reserve. A 15% buyer’s fee and applicable 5.5% Wisconsin sales tax will be added to purchases.
The nonprofit closed its doors at the end of March amid accusations of misusing taxpayer money and filed for bankruptcy in April. Titletown Auction Company will liquidate Newcap’s non-real estate assets.
Court documents show Newcap owes money to 209 parties, totaling $4.03 million. Newcap estimates it has $5.9 million in assets, with $4.89 million of that tied up in 25 properties, according to a 137-page filing in federal court. An attorney representing Newcap in the bankruptcy previously told FOX 11 there should be enough money to pay everyone who is owed after the agency’s assets are liquidated.
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