News

End of the Road

Paul Cooper, Operations Director, CJM Asset Management

Components, equipment and tools from failed North East Lincolnshire-based motorhome dealership . . . Euro Motorhomes  . . . are to go under the hammer at an auction in Scunthorpe next week.

The company, which was based on the Wilton Road Industrial Estate, closed its doors and called in the liquidators a month ago. CRG Insolvency and Financial Recovery of Grimsby, who are handling the winding up of the company’s affairs, have now instructed industrial auctioneers CJM Asset Management to sell off the firm’s machinery, equipment and spares.

“Sadly we haven’t got a motorhome to offer at next Tuesday’s auction” said CJM Director Paul Cooper, “What we have got is a large range of components and accessories, everything from vehicle doors to roof ladders and cycle racks. We’ve also got a large quantity of wheels and tyres.”

“It is the sort of stock that’s going to interest people in the motorhome business rather than the public, so we’ve catalogued things in trade lots, a couple of dozen lots in total.”

“We have also been sent office furniture and equipment from the company and that’s been included in other sections of the sale.”

Mr Cooper added: “On the insolvency front, the new year seems to be starting much as the old year ended, which is to say quite busy.”

Next Tuesday’s auction also includes machinery, tools, equipment and parts from Grantham-based Fersina Windows, one of the largest plastic window companies in South Lincolnshire, which went under several weeks ago.”

“Fersina’s the latest in a long line of such companies to hit problems. It is a very competitive business and with the downturn in the housing market last year, the business has been having a difficult time.”

“The most valuable things are the vehicles. We’ve been sent several decent vans, expected to make £2,000 - £3,000 each, plus a pick-up and a estate cars.”

“We’ve also got a lot of window manufacturing kit, plus door and window components and furniture. In all we have 70 or 80 lots from the company.”

“Coincidentally . . . and just to indicate that its not just local companies that are suffering . . . we’ve also been instructed to sell a complete sealed glass window unit production line by a finance company that’s repossessed it from a window company based in Greenwich, in London. We are led to believe that it cost over  £100,000 new. We think it’s likely to go for less than 10%, if that. So a potential bargain for someone!”

“The auction also includes office furniture and equipment from Willmakers of Distinction, a will writing company based in Lincoln with agents around the country.”

“The company went into voluntary liquidation in the autumn and the liquidatora, Begbies Traynor, have now despatched the firm’s furniture, computers and other kit to us for disposal. The furniture section of this auction extends to a couple of hundred lots, almost a quarter of which has come from Willmakers.”

In all the auction extends to over 1000 lots. The public viewing sessions for the auction are on Monday (16th January) 11am-6pm 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 free of charge from the firm’s website: www.cjmasset.com

David Newman - Newman Walker Associates - 10th January 2006