News

Reflections on The Economy?

              A lorryload of high-class mirrors is to go under the hammer in North Lincolnshire next week (Tuesday September 2nd) after being seized by bailiffs from an upmarket retail store in Birmingham.

              The bailiffs moved in when the owners of the business failed to pay their rent.

              The store’s stock has now been sent to industrial auctioneers CJM Asset Management for disposal.

              CJM director Paul Cooper said: “We got a call out of the blue on a Friday afternoon from the bailiffs in the West Midlands asking if we could handle some mirrors that they had taken in lieu of rent. They did warn us there were quite a number but we were taken aback when two box vans arrived on Monday morning.”

              “There are multiple-thousands of pounds worth of mirrors involved, ranging in size from around two feet by three feet right the way up to seven feet by five feet, in very fine frames.”

              “They are posh hotel standard and they were all in their original boxes, most of them unopened. We’ve also been sent a considerable number of original abstract paintings and a large quantity of picture frames.”

              Paul added: “The auction reflects the ongoing problems being experienced by business and industry in the current economic climate. Things started with the construction industry and have gone from there. We’re now being sent stock and equipment from all sorts of firms, all over the country.”

              The auction will see close to a million pounds worth of food processing lines and equipment go under the hammer. That has been sent for disposal following the merging of two factories in the North East manufacturing chilled prepared foods for supermarkets.

              Paul said: “It is good quality modern kit that is attracting a lot of interest, not only from firms in this area but also abroad. We’ve already has requests for photographs and specifications from potential buyers in the Far East, the Middle East and the continent.”

              Meanwhile a huge quantity of brand new work-wear and protective clothing is to be sold off following the liquidation of a Derby supplier. Ranging across safety footwear and helmets to shirts, trousers, fleeces, jackets and coats, it has been estimated that the value of the stock at retail valuation is £30,000 - £40,000.

              The more expensive items are to be auctioned in small lots. The larger quantities of items such as overalls and polo shirts are to be sold off in trade lots.

              Paul added: “From the local economy’s point of view the good news is that there is not a great deal that has come from failed Humberside companies. We have the stock and equipment from a hairdressing and beauty Salon in Hull that has closed and the stock of a Beverley supplier of tools and hardware equipment that has ceased trading but that’s about it.”

In all the sale extends to about 1000 lots. The viewing sessions are on Friday (28th August 11am-4pm); Monday (1st September 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.