Britannia AuctionsLiquidation and insolvency asset sales in Sunderland
A tier two supplier on the Washington estates rarely fails on its own. The volume forecast from the car plant drops, a model changes over, and a moulder or a trim shop at Pattinson or Armstrong that geared up for one programme finds itself in administration with presses, moulding machines, robot cells and conveyors that were bought for that work alone.
We act for the administrator, the liquidator, the lender or the landlord. The first visit produces an asset schedule with serial numbers and photographs, a written opinion of value, a list of what is on finance and a separate list of anything that belongs to the customer. That last list matters more here than in most towns. The route is usually an online timed auction, open to bidders across the UK, with Gateshead, South Shields, Peterlee and Durham able to get to a viewing day without a long trip. Use the contact form to tell us about the appointment.
Moulding machines, robots and tooling that belongs to the customer
Injection moulding machines, presses, robots and automation cells from an automotive supplier are catalogued for a national audience. Tonnage, age, the control screen, the hours and the maker's plate are what a moulder assesses, so the photographs have to show them for anyone bidding without a visit.
The moulds, press tools and jigs are a different matter. In the automotive supply chain the customer usually paid for them, owns them and may want them back to move production elsewhere soon after the appointment. We separate that tooling at the first visit, tag it, photograph it and hold it for the office holder to release against the customer's paperwork. Nothing customer owned goes into the catalogue. Where the paperwork is unclear, we schedule the tool with a note and leave the decision to the office holder. Getting this right early keeps the tooling question from holding up the rest of the sale.
Selling while the office holder trades the business on
An insolvent supplier to a car plant may be traded for a period after the appointment, where the customer wants parts to keep flowing while it sources them elsewhere. That changes the auctioneer's job. We can schedule and value the whole site without stopping production, so the office holder has the figures for a decision on trading or on a break up. The catalogue is prepared in the background. When production stops, bidding can open quickly.
Collection is planned from the site itself. On the Washington estates and around North Hylton and Hylton Riverside we check the vehicle route, the turning space and the loading door at the site visit and record them in the catalogue, and the A19 and A1(M) are close for buyers coming from further away. Machines with large bed plates or robot cells on raised floors are noted in the catalogue with their removal requirements, including where a specialist contractor is needed.
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 Sunderland
- The car plant wants its tooling back before the sale. Can it collect?
Yes, once the office holder has released it. We identify customer owned tooling on our first visit, tag it and photograph it in place. The customer's tooling list is checked against ours and any differences are put to the office holder. Release is against written authority, and we record what left and when. The customer's contractors collect under the same site rules as auction buyers, so the tooling and the machines are not confused on a busy collection day.
- There are automation cells and conveyors bolted into the floor. Do they sell?
They can, though the price reflects the work of getting them out. Robot cells with guarding and safety circuits are catalogued for integrators and for other suppliers who can reinstall them. Conveyor systems and one off automation built for a single part are harder, and some may be worth more as components than as a system. We describe each cell with its removal requirements, put a method statement condition on the lot and time the collection so that specialist removal work happens on set days.
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.