￡2.4m distressed sale offers opportunities for construction firms
- Details
- Hits: 3492
Timber products and joinery equipment to the value of ￡2.4 million will go under the hammer next month in what is believed to be the largest ever distressed sale of its type in the UK.
The 4,000 lots are the assets of Oakworth Joinery, the Yorkshire company which was the UK’s largest independent window and door manufacturer before its closure in February. The sale is expected to attract widespread interest from the construction industry.
Valuers and auctioneers Charterfields have spent several weeks cataloguing the stock remaining on Oakworth’s 15-acre site in Keighley. The sale will feature 1,500 lots of woodworking equipment, machinery and tooling, including a recently installed, fully automated paint plant, along with 1,000 lengths of timber consisting of redwood, iroko, sapele and oak, both machined and virgin.
There are also manufactured products including 500 sets of French folding doors and 500 windows, plus warehouse racking, office equipment and consumables.
Oakworth was Keighley’s second largest employer and its collapse resulted in the loss of 170 jobs. The company had been manufacturing in the town since 1965. Charterfields is selling the assets of the business on behalf of the administrators, The P&A Partnership.
Robert Edwards, associate director with Charterfields, said: “In terms of the sheer number of items, this is one of the largest auctions we have seen in recent years. I believe it will certainly be the biggest ever distressed sale of timber products in the UK.
“The auction will be of interest not only to the joinery trade but also to the wider construction industry. It is an opportunity for window and door manufacturers to stock up on raw materials and equipment, and for builders, builders’ supplies merchants and DIY outlets to acquire windows, doors and other products at below cost prices.”
Viewing takes place at the premises of Oakworth Joinery between 9.00am and 4.30pm on 27 and 28 March, with the online auction being held on 2 to 4 April.