If you cannot sell the business as a going concern, the assets are sold piecemeal. The recovery is almost always disappointing versus purchase price — here are the real ranges so you can set expectations and prioritize a sale instead.
Recovery rates by asset class
| Asset | Typical recovery (% of value) |
|---|---|
| Equipment (used auction) | 25–50% of book (some 30–60%) |
| Inventory | 20–50% of cost (branded/perishable low) |
| Accounts receivable (current) | 40–85%; 90+ days 40–60% |
| Real estate (forced sale) | 70–90% of value |
| Vehicles | 60–75% |
| Leasehold improvements | 5–20% |
| Goodwill / intangibles | 0% |
The fees that shrink the pile
Third-party liquidators and auctioneers typically take 8–15% of proceeds, before hauling and storage. An Assignment for the Benefit of Creditors (ABC) is a state-law Ch 7 alternative that can preserve more value than a fire sale but still pays professionals off the top.
Priority of claims: sale proceeds pay secured creditors first, then priority unsecured (limited wages per employee, taxes), then general unsecured, then subordinated, then owners. If liens exceed value, the owner may recover nothing — which is exactly why a going-concern sale is usually better.
Sources: equipment-auction and liquidation-industry recovery studies, UCC Article 9 priority rules, ABC practice summaries. Retrieved 2026-08-13. Ranges are educational estimates.