Liquidity Services Receives 12 Month Contract Extension
Liquidity Services (NASDAQ: LQDT), which operates leading online marketplaces for corporate and government surplus and salvage assets, today announced that the U.S. Defense Logistics Agency (DLA) has exercised the second of two potential 12-month extension periods under its Surplus Useable Property sales contract (Surplus Contract) with Liquidity Services to sell surplus assets of the U.S. Department of Defense (DoD).
Through a unilateral contract modification, the Surplus Contract's performance period has been extended through February 13, 2014. During the extended performance period, the DoD will continue to use Liquidity Services as the primary channel for the disposition of useable surplus property that is approved by the DoD for sale to the public.
Under the Surplus Contract, Liquidity Services manages the receipt, storage, marketing, and disposition of all useable surplus personal property generated by DoD installations throughout the United States. Assets are offered for sale through Liquidity Services' online auction marketplace, GovLiquidation.com.
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