News

The entire stock of a Lincolnshire garden and conservatory furniture retailer is to go under the hammer at auction in Scunthorpe next week following the collapse of the business.

Stonebow Leisure, based at Osbournby near Sleaford, went into liquidation some weeks ago as the firm struggled with the difficult market conditions facing retailing businesses.

The liquidator who is handling the company’s affairs - Charles Ranby Gorwood of CRG Insolvency and Finance Recovery of Grimsby – has now instructed CJM Asset Management to dispose of Stonebow’s stock and equipment.

Furniture with a retail value of around £30,000 is to be sold off in an auction at CJM’s Brigg Road saleroom on Tuesday (13th May).

CJM Director Paul Cooper said: “Conditions in the garden and conservatory furniture business have been absolutely brutal for the past 12 months and many firms, particularly independents, are having a difficult time.”

“The flooding and the shocking weather last summer hit sales badly. The national chains have responded by slashing prices and squeezing lower prices out of their suppliers in the Far East, who had a lot of stock on their hands.”

“Throw in the credit crunch and firms like Stonebow have been hit by the perfect storm. Despite being in the business for over twenty years, the directors decided to call it a day.”

“We’ve got all their stock in next week’s auction, including a lot of expensive garden and conservatory furniture, not to mention two inflatable outdoor hot tubs and everything from the showroom plants to the office furniture and IT equipment.”

“The garden furniture is all good quality teak and includes all types of chairs, including steamers. We also have tables, benches, coffee tables, planters and large quantities of cushions and covers.”

“Some of the table, chair and parasol sets that will be on offer retailed for £1,200 – and that was in the firm’s sale.”

"The inside stuff includes cane and wicker furniture, mirrors, chairs and quite a few decorative items.”

“One of the most extraordinary items in the auction does underline just how difficult it is for British manufacturers to compete against the low labour cost economies of the Far East – a six feet by four feet wall plaque of stampeding horses, hand carved from a single piece of hardwood.”

"I cannot begin to imagine how many man hours were involved in its creation but Stonebow could offer it for sale for £1,000. Take their mark-up off and the wholesalers mark-up and the cost of transporting it across the world – and the workshop that produced it probably got paid less than a couple of hundred quid.”

The engineering section of the auction includes good quality plastic window manufacturing equipment from a firm that’s closed down in Lancashire and some high value machinery from a retained corporate client operating in the aerospace sector.  A jig borer is expected to go for £3,000 - £5,000 and a surface grinder has a pre-sale estimate of £5,000 - £6,000.

The vehicles section includes a Mercedes Atego refrigerated lorry with a tail lift, a furniture removal lorry and a Crew Cab pick up.

In all the sale extends to close to over 750 lots. The viewing sessions are on Monday (12th May) 1pm-7pm and on Tuesday morning from 8.30am until the start of the sale at 10 am. Catalogues are available from CJM or can be downloaded from the firm’s website: www.cjmasset.com free of charge.

For further information or comment please contact Paul Cooper at CJM Asset Management on 01724-334411 or email paul.cooper@cjmasset.com