The Economy Take Another Victim

July 13, 2012 - PRLog -- The recession has crumbled a concrete block manufacturer in Doswell, VA. After filing for bankruptcy in early 2011, Hanover Xteriors was unable to reorganize their debts and a foreclosure auction and liquidation of their assets is set to occur in August.

3 years of producing concrete products has paved paths for many Virginians across the state. Aside from beautifying many homes, the bricks produced at Hanover Xteriors have made walking across public walkways and college campuses a work of art. This all started in 1999 with one man and $10,000. Nine years later, he had 30 employees and moved to his current 15,000 SF facility. The bankruptcy also included operates divisions in Chesapeake (Xteriors of Virginia Beach, LLC) and in Ashland (Xteriors Factory Outlets) as well as the parent company of all Xteriors properties, Beaverdam Land Development Co.

The facility of Xteriors Manufacturing in Hanover, County is the only one up for auction. The sale on August 2 is for the paver plant including 2 production lines. There are three simultaneous online only auctions from August 3 – August 9 for vehicles & mobile equipment, office furniture fixtures and equipment, and paver plant accessories and inventory. Richmond’s Motley’s Auction & Realty Group is handling all 4 auctions. “We hope the successful sale will return many jobs to the hard hit manufacturing sector,” states Vice President of Real Estate, Tim Dudley. “We brought concrete manufacturing back to King George County so we have high hopes for this sale.”

Xteriors Manufacturing not only produced and beautified areas across Virginia; they supplied the bricks for many landscaping businesses throughout Virginia.