Omnivar Schedules July Bankruptcy Sale

Omnivar, a Glendale-based computer reseller that filed for Chapter 11 bankruptcy last month, said it has contracted with Ross-Dove Co. to conduct a public auction of its inventory and other assets on July 10.

Louis Da Re, Omnivar’s chief executive officer, said the auction is being held because the company could not get concessions from creditors and because it needs cash to operate while Omnivar tries to reorganize its finances. Omnivar said personal computers, software and other office equipment valued at $2 million will be sold at the auction.

Omnivar filed for bankruptcy protection May 27 after three straight years of losses. The company, which had annual sales of more than $40 million, blamed its financial troubles on an acquisition that it made in 1988 along with high overhead and the recession.