Asset valuers BPI Asset Advisory have been instructed to value and dispose of PSP assets following the appointment of James Lumb and James Clark of Interpath as joint administrators on 20th September 2024.
County Durham based PSP Group ceased trading in September. While efforts were made to save the business, a combination of redundancies and other costs have resulted in the requirement for a piecemeal disposal of company assets.
The company specialised in the manufacturing of aluminium facades and cladding along with door and window frames, supplying substructure and architectural features for a number of large-scale developments.
More than 600 Lots are now available through BPI’s online marketplace, BPI Auctions, with a two-phase auction closing from 11am 6th November and 11am 14th November respectively.
The phase one auction focuses on the architectural aluminium window, door and curtain walling machinery and stocks including a 2019 Schuco AF450 CNC Profile Machining Centre, along with a 2014 Emmegi TS2 Twin Head Cutting Off machine, Phantomatic X6 CNC Machining Centre and a range of Elumatec equipment.
The second phase includes conventional and traditional fabrication equipment, welding equipment, hand tools and stock to include a Bystronic Xact Smart Press Brake, a Edwards Pearson Press Brake, AMB pyramid Rollers, Turret Press, a range of Mig and Tig Welders, power tools, along with DAF and Iveco dropside wagons.
BPI Asset Advisory director Andy Cromack said: “Whilst it is unfortunate that no proceedable interest was found for the business, the online auction presents an opportunity for businesses within the industry to bid on a range of well-maintained manufacturing and fabrication equipment. Given the scale of the business, there will be equipment to suit companies of various size and measure.
“The facility and equipment within appear well-presented, whilst the equipment seems to have been well-maintained throughout its working life. We anticipate this sale will be popular within the industry and urge bidders to register their interest as soon as possible and make arrangements to view the asset.”
To view the auction lots, see:
- Sale 1: www.bpiauctions.com/auctions/#/auctions/d35831f2-3ee0-4bd9-8b84-178e49b69391
- Sale 2: www.bpiauctions.com/auctions/#/auctions/147dbc3e-4363-415b-aa12-bfa25bfa7e23
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