Over fifty thousand pounds worth of craft gin is to go under the auctioneer’s hammer in North Lincolnshire next week following the collapse of Gin Festival Limited and the cancellation of festival events all over the country.
The Keighley-based company went into administration last month after attempts to find a buyer for the struggling company failed.
Twenty major gin festivals that were scheduled to take place in the next few months have been cancelled including events in Sheffield, Wakefield, Lincoln, Leicester, Liverpool, Birmingham, Worcester, Oxford, Norwich, Edinburgh, and Portsmouth, leaving the buyers of. 20,000 advance tickets out of pocket. They’ve been advised to contact Paypal or their credit or debit card providers to check if they are covered for their loss.
The administrators handling the winding up of the business – Julian Pitts and Nick Reed of insolvency specialists Begbies Traynor – have now instructed industrial auctioneers Eddisons CJM to dispose of the firm’s remaining assets
Eddisons CJM director Paul Cooper said: “The Gin Festival premises in West Yorkshire have had to be cleared, which is why the remaining assets have been moved to our Auction Centre in Scunthorpe for the online sale next Monday (August 13th).
“The auction will see over 1,200 bottles of craft gin going under the hammer, some of which sold for more than £40 a bottle. We calculate the total retail value to be in excess of
£50,000 . . . and I imagine considerably more than that at festival prices.”
“We have divided most of the gins into practical lots of two to six bottles so that members of the public can get involved in the bidding as well as trade buyers. Everything in the auction is being sold without reserve, so it will make what it makes.”
Mr. Cooper added: “We’re also auctioning huge quantities of mixers. We reckon we have something over seven thousand bottles of those and they are obviously being sold in larger quantities.”
“We have also been instructed to dispose of all the festival furnishings and equipment that the company used to stage events around the country. That ranges across everything from optics boards, travelling bars and bar equipment, through sound system kit and event fencing, to pallet trucks and the large flight cases that were used for transportation. We’ve even got their ‘selfie stand’ and camera.”
“Whilst it is not as headline-grabbing as the gin, the equipment lots are actually the most valuable in the auction and are expected to raise a considerable part of the final total.”
The auction extends to over 350 lots. The full catalogue is available on the Internet at www.eddisonscjm.com. The viewing sessions for the auction are at the CJM Auction Centre on Dunlop Way in Scunthorpe on Friday (10th August) 1 pm-4.30pm. The online sale using the BidSpotter platform (www.bidspotter.co.uk) closes at 6pm on Monday (13th).
For further information or comment please contact Paul Cooper at Eddisons CJM on 01724-334411 or 07970-126339 (firstname.lastname@example.org.)