AUSTIN(KXAN) – It was standing room only Thursday morning as people packed the old RunTex building near Lady Bird Lake to place bids on sports memorabilia.

“It’s really good for us to get this taken care of and behind us,” said Paul Carrozza, owner of the now-shuttered RunTex.  “So we can emerge in sort of the new form. ”

The famous running store shut its doors in April after it was not able to pay the rent.

The Travis County Tax Assessor Collector’s Office announced the auction in late April.  According to the tax office, the company owes about $17,000 in delinquent property taxes.  

“I’m glad it’s here to create value to get us caught up, but I had hoped to hang onto those items,” said Carrozza.

Some of the big ticket items include a signed Lance Armstrong jersey and a pair of running sneakers President George W. Bush used after September 11 to cope with stress.

The Olympic torch Carrozza ran with while it passed through Austin to the Salt Lake Games was auctioned off, too.

“It’s like seeing your life’s work in front of your eyes all the great memories, what they symbolize. They’re kind of an era,” explained Carrozza.

Everything in the building was for sale including shirts, sneakers, tables and equipment.  The water coolers that would run along the hike and bike trail will be up for grabs too.  Along with

Carrozza  said things started to go down financially in 2008.  Carrozza said he tried to grow the company to stay in line with the way Austin was growing as a city.   The owner said he over expanded and increased competition hurt his business.

“I really want to have a great place. I want RunTex to emerge as a great place to go and change your lifestyle and get all the proper things you need to be an athlete.” Carrozza said.

He wants to rebuild RunTex, and knows it will take time.

RunTex will still be dedicated to charitable work through the RunTex foundation.  The company was instrumental to the revival of the Trail of Lights.

Gaston Sheehan is putting on the auction. You can see the auction catalog and some of the picture s online.