Liquidity Services awarded a contract by NEPO to sell commercial vehicles and construction equipment on its online marketplace AllSurplus

Rhea-AI Summary

Liquidity Services (NASDAQ:LQDT) has secured a 4-year contract under the NEPO202 framework for the remarketing of vehicles and equipment. This contract will allow the company to sell used cars, commercial vehicles, and construction equipment for various public sector organizations in the UK, including local authorities and NHS bodies. Items will be available for purchase on AllSurplus.com, Liquidity Services' marketplace for business surplus. The NEPO framework focuses on high-value procurement in collaboration with North Eastern UK local authorities.

Positive

• Secured a 4-year contract under the NEPO202 framework, enhancing revenue potential.
• Opportunity to sell to various public sector organizations in the UK, expanding market reach.

Negative

• None.

BETHESDA, Md., June 16, 2021 (GLOBE NEWSWIRE) -- Liquidity Services (NASDAQ:LQDT) is proud to have been awarded a place on the NEPO202 framework Remarketing of Vehicles and Plant Equipment. Under the 4-year contract awarded by NEPO, Liquidity Services will sell used cars, commercial vehicles, and construction equipment on behalf of a range of public sector organisations in the United Kingdom including local authorities, educational establishments, emergency services and NHS bodies.

All items for sale can be viewed and purchased on AllSurplus.com, Liquidity Services’ leading marketplace for business surplus.

Established in 1976, NEPO undertakes high-value procurement in major strategic areas of spend in conjunction with North Eastern UK local authorities and a range of associate members. You can read more about NEPO at www.nepo.org.

About Liquidity Services, Inc.
Liquidity Services (NASDAQ:LQDT) operates the world’s largest B2B e-commerce marketplace platform for surplus assets with over $8.5 Billion of completed transactions, more than 3.8 million registered buyers and 15,000 corporate and government sellers. We support clients’ sustainability efforts by helping them extend the life of assets, prevent unnecessary waste and carbon emissions, and defer products from landfills. Through our vital mission of Building a Better Future For Surplus we’ve played an integral role in many of our clients’ zero-waste initiatives and worked with corporations, federal and municipal government agencies to pioneer some of the largest green initiatives to date, deferring billions of pounds of surplus assets from landfills. Visit us at LiquidityServices.com.

FAQ

What is the significance of the NEPO202 contract for LQDT?

The NEPO202 contract allows Liquidity Services to market vehicles and equipment for public sector organizations in the UK, potentially increasing revenue.

When was the NEPO202 contract awarded to Liquidity Services?

The NEPO202 contract was awarded on June 16, 2021.

Where can items sold by LQDT under the NEPO202 contract be purchased?

Items can be viewed and purchased on AllSurplus.com, the marketplace for business surplus operated by Liquidity Services.

What types of items will LQDT be selling under the NEPO202 contract?

Liquidity Services will sell used cars, commercial vehicles, and construction equipment under the NEPO202 contract.