Maynards Conducted Appraisals and Auctions at Iowa Plant.
Whirlpool, maker of washing machines, refrigerators and other appliances, was operating a plant at one-third capacity. Whirlpool has a long and rich history, but they were forced to close the Maytag Newton Division in Newton, Iowa. The industrial equipment in the plant would be transferred to another plant, auctioned or sold for scrap. They called Maynards to conduct the appraisal and perform the eventual auction to decide the fate of the assets. Al Loewenstein headed that appraisal team. The appraisal was based on a Fair Market and Forced Liquid Value.
Whirlpool called upon Maynards because of their superior reputation in dealing with large plants and the excellent work they had done with GM. Maynards was able to meet Whirlpool's deadline and complete the work as they had in the past.
The Whirlpool plant would eventually be shut down with Maynards auctioning the remaining assets in preparation for the sale of the building and property.
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