A leading contract furniture manufacturer has decided to close its secondary location as part of a downsizing strategy.
Based in North Yorkshire, the company specialises in supplying and manufacturing high-quality contract furniture and bespoke banquette seating to the hospitality, commercial and healthcare sectors.
With over 24 years of experience, this family-owned business was established in response to the growing demand for high-quality contract furniture. Following the decision to close the site, the company sold its traditional woodworking machinery through an auction sale with BPI Asset Disposal Solutions. This included various saws, sanders, moulders, dust extractions and other workshop machinery.
The challenge
The company has decided to shut down its secondary location after many years of operation, leaving it with outdated and surplus machinery. The company sought to sell these assets to maximise returns and increase cash flow for reinvestment into its primary business.
As an existing customer of BPI, the furniture manufacturer and supplier chose them as their asset disposal specialists for the asset disposal and sale, thanks to BPI’s proven success and reliable track record.
The asset disposal solution
BPI facilitated a stress-free asset disposal process by offering a full-service package, including a thorough valuation. This involved BPI’s project management team visiting the client’s site to catalogue and photograph 16 lots of machinery and equipment. This included:
2008 Griggio Panel Saw 2006 Biesse Wide Belt Sander 1998 Weinig 5 Head Moulder Wadkin Straight Line Edger Radial Arm Saw Pillar Drill JLT Clamp Spindle Moulders Morticers Dust Extraction Units & moreTo ensure a quick sale and maximise value, BPI utilised their 24/7 online auction platform, which provides access to global buyers, encouraging competitive bidding without reserve prices.
The auction results
BPI efficiently managed the entire process, achieving a quick turnaround from initial contact to the online auction. The auction was highly successful, with all lots sold and over £25,000 generated for the client.
This success highlights the benefits of partnering with asset disposal specialists like BPI. By leveraging their expertise and global network of qualified buyers, BPI maximised the true value of the woodworking assets.
The successful auction allows the company to quickly close its secondary premises, avoiding the need to relocate or store machinery, and instead converting these assets into cash flow.
A spokesperson from the contract furniture company said: “We’re delighted with the solution provided by BPI. We’ve worked with BPI and they continue to provide an exceptional and personalised service, but this sale exceeded all of our expectations. We’re extremely pleased with the quick results and returns achieved.”
Robin Latham, BPI’s Account Manager, said: “By utilising BPI’s online platform, our client was able to realise the full value of their machinery. The auction was highly successful, with the achieved value exceeding expectations, especially considering there were only 16 lots. This result highlights the effectiveness of our online auctions in reaching the true market value of assets for our clients.”
Closing or downsizing a business can be a stressful experience. Asset disposal specialists aim to make the asset disposal process as smooth and hassle-free as possible by providing tailored solutions that meet your specific needs. BPI’s comprehensive service allows businesses to focus on managing business closure, downsizing, relocation, retirement or fleet renewal, while they handle the rest – ensuring a seamless process and maximising returns on assets.
