A press release about an upcoming auction of assets of Peavey Electronics Inc. in Meridian and Decatur has prompted undue alarm about the company’s status locally.

    PL Group and Myron Bowling Auctioneers have formed a joint venture to conduct a Live/Webcast Auction for the manufacturing assets of Peavey Electronics on May 19 and 20. A press release about the upcoming auction also noted that Peavey is closing its speaker and amplifier manufacturing operations in Meridian and Decatur.

    “This is a story you’ve already ran; you ran it last September,” said Tony Moscal, general manager of Peavey’s business development. “The new press release that came out about that we’re going to be selling some of our equipment for some reason, I have no idea why, as opposed to just saying, ‘Hey, we’re going to be selling some of the Peavey equipment,’ they kind of ran it as our last September story.”

    The story Moscal refers to is the announcement of Peavey downsizing – not closing – the company’s plant located on A Street, also known as The Banana Building. The downsizing became official on Nov. 25, 2014, laying off 99 employees. In a story published in The Meridian Star, Hartley Peavey, who founded the company in 1965, attributed the action to an unfavorable business climate in Mississippi and the United States, as well as the inability to find enough trained workers.

    The press release about the auction was picked up by news media nationwide, including The Associated Press in New York, which reported Tuesday that the Meridian-based guitar amplifier and musical equipment maker was closing its remaining two manufacturing plants and shifting those jobs overseas.

    “The press release did not come from us,” Moscal said, emphasizing that Peavey Electronics partially closed the plant.

    “There’s still operations going on there today,” he said.

     Manufacturing equipment to be auctioned are items no longer required by Peavey Electronics.

    “We’re looking forward to a successful auction for Peavey Electronics. With more than 100 years of combined experience, we know what it will take to successfully bring together the right buyers with this premier company,” said PPL Group’s Executive Vice President and Partner Joel Bersh. “The simultaneous live and online auction format is increasingly effective in matching serious buyers with valuable assets.”

    The auction will be conducted over two days, starting at 10 a.m. CDT each day. It will include manufacturing equipment from three buildings totaling 485,000 square feet. Included in the sale will be press brakes and dies, shears, 30- and 50-ton turret punches, insertion presses, several gap frame and OBI presses, lathes, mills, drills and grinders. Additionally, the sale will include items from a complete paint system, stage wash line, screen-printing department, wood working department, and complete assembly department. 

    Bidders can register and find more information at www.pplauction.com.