Selling equipment when you close a business · Liquidation Market guides

When a business closes, its equipment, fixtures and remaining stock are often worth more sold in lots than scrapped or left for a landlord. A few steps protect you and the buyers.

Before you sell

Check who owns it. Leased equipment belongs to the lessor, and equipment pledged as collateral may have a lien on it. Read your leases and loan documents before listing anything.
Check your obligations. The SBA’s guide to closing or selling a business covers final tax returns, permits and licences, and notices to employees.
Wipe data. Computers, drives, phones, copiers and POS terminals can hold customer and employee data. Wipe them before listing; the Market asks you to attest it.
Mind sale wording. Many cities and states regulate “going out of business” sales. Use that wording only if you meet the local rules.
Sales tax. Selling business assets can be taxable where you are. Ask your state tax office or accountant.

Listing equipment well

Say who removes it, whether there is a dock or forklift, power and gas disconnection, and whether a certificate of insurance is needed for riggers.
State condition plainly (new, used or for parts) and whether it worked when removed.
Clock lots suit stock that must be gone by a date (for example a lease end): the price steps down on a published schedule to your floor.

If the business is in bankruptcy

Once a bankruptcy case is filed, property generally belongs to the bankruptcy estate and is sold by the trustee or the debtor in possession under court rules, not by the owner informally. See the U.S. Courts’ Bankruptcy Basics and talk to a lawyer before selling anything.