Britannia AuctionsLiquidation and insolvency asset sales in Nottingham
Nottingham gives an office holder a mixed bag. The company might be a wholesaler at Colwick with a warehouse of date coded stock, a pharmaceutical or engineering firm at Beeston with laboratory and clean room equipment, a distributor at Blenheim Industrial Estate with vans on finance, or a printer on Lenton Lane with presses that a lender has a charge over. The common thread is that each asset has a different owner, a different shelf life, a different buyer and a different deadline.
We act on the instruction of administrators, liquidators, lenders and landlords. We attend promptly, schedule and photograph everything, separate what the company owns from what it holds for others and give a written opinion of value. The route is an online timed auction, and the ring road keeps a two site viewing practical where the access at each unit allows it. Describe the appointment through the contact form and we will set out a plan.
Wholesale stock with dates on it
A wholesale or food and drink failure is a race against the calendar. Chilled goods, ambient food with short dates, drinks past their best before and consumables with shelf lives all lose value by the week, and an office holder who waits for a full valuation before acting can end up paying for disposal instead of collecting proceeds. We say so plainly, and we can put short dated lines into a short sale, on a timetable set by the dates on the stock, while the rest of the estate is catalogued properly.
Stock is lotted in trade quantities, by pallet or by case, so that cash and carry operators, independent retailers, market traders and caterers across the East Midlands can buy what they can move. Mansfield, Newark, Grantham and Derby are within reach of a viewing day, and bidding is online and open to the rest of the UK. Anything that needs a licence to sell, or that the office holder is not satisfied has clean title, is held back and reported rather than listed.
Laboratory and clean room equipment from Beeston
The pharmaceutical and engineering sites in Beeston and around Lenton Lane fail with equipment that a general auctioneer may not know how to describe. Fume cupboards, laminar flow cabinets, incubators, centrifuges, analytical instruments and clean room fittings have a value that depends on model, age, service history and whether the validation records exist. We photograph the maker's plate and the last service label on every instrument and list each item with enough detail for a laboratory manager to bid without visiting.
Laboratories, universities, contract manufacturers and equipment dealers can all bid online from across the UK. Delicate instruments are packed and collected by the buyer's own courier within the collection window. Anything holding samples, reagents, cultures or controlled substances is reported to the office holder for the company's own compliance staff or a licensed contractor to deal with before we touch the equipment around it.
What these sales can include
- Machine tools and production lines
- Finished stock and work in progress
- Raw materials and components
- Commercial vehicles and vans
- Plant and site equipment
- Forklift trucks and pallet trucks
- Racking and warehouse fittings
- Office furniture and IT equipment
- Catering and bar equipment
- Fixtures and fittings
- Tooling, spares and consumables
- Shop fittings and displays
How the auction runs
Insolvency assets are usually sold by online timed auction. The catalogue is photographed on site, listed with estimates and opened for bidding for a period agreed with the office holder, usually one to two weeks. A viewing day is held at the premises. Lots are offered as seen under the auction terms, and buyers are expected to inspect before bidding.
Buyers pay the hammer price plus a buyer's premium, with VAT charged where it applies and shown separately on the invoice. Payment is taken before collection. Buyers arrange and pay for the removal of their lots during an agreed collection window, using specialist movers where the weight and dimensions call for them. Our staff supervise collection so the premises are protected and every removal is signed off.
Private treaty is used for individual assets where a direct sale may produce more than the auction, subject to the office holder's approval.
The liquidation and insolvency asset sales page covers who instructs the sale, what an insolvency practitioner needs from us, securing the site, timescales, for directors.
Questions about selling in Nottingham
- The company traded from two units, one at Colwick and one at Lenton Lane. Do you run two sales?
One catalogue, two collection points. We schedule each site separately so the office holder can see what came from where, but the lots go into a single online auction with the location stated against each one. Viewing is held at both units on the same day, which the ring road makes practical. Buyers collect from the unit named in the catalogue in their booked slot, and both units are cleared to the same deadline so the landlords get their keys together.
- How fast can chilled or short dated stock be sold?
Quickly, where the office holder gives the go ahead at the site visit. We photograph and list the short dated lines as a separate quick sale with a short bidding window and collection arranged as soon as it closes, while the equipment and longer life stock go into the main catalogue on the normal timetable. Cold storage has to stay running until collection, so we confirm the power and the refrigeration contract before the lines are listed. Proceeds are accounted for separately.
More questions about insolvency asset sales
Related services
Guides
- What insolvency practitioners need from an auctioneer
For office holders realising physical assets. Covers the instruction letter, the asset schedule and valuation basis, retention of title, finance checks, site security, health and safety during the sale, and the reconciliation you need for the file.