Pink Skips auction raises £100,000 more than expected
An auction of assets at one of Telford's most recognisable companies raised £100,000 more than expected, it was revealed this afternoon.
Pink Skips were forced to sell off machinery and equipment after receivers were called in February and discussions with potential buyers failed to save the Ketley-based recycling firm.
Administrative receivers Grant Thornton had hoped a buyer would save the family-run business but when interested parties pulled out, Jones Lang LaSalle auctioneers organised a two-day online auction in a bid to raise £500,000 for creditors.
The company sold off its refuse collection lorries and trailers as well as office stationary, furniture and potted plants yesterday.
Many items had no reserve price and were sold to the highest bidder. Winning bids ranged from £5 for office equipment to bids of over £100,000 for machinery.
Organisers believe the auction raised £100,000 more than expected.
Mike Hanson, auctioneer said: "All lots offered for sale were sold and the auction went very well. We believe the total figure raised will have exceeded our expectations by approximately 20 per cent.
Mr Hanson added: "The most expensive item, a godswill baler sold for £103,000. It is a very modern piece of equipment which was less than 12 months old and retails for approximately £150,000."
The Rock road site was open for viewings of the available lots on Tuesday and more than 60 people from across the UK visited.
More than 110 companies entered the online bidding war for items and had until 1pm yesterday to place their bids.
Pink Skips operated construction services, recycling and waste management, and was one of the largest privately owned recycling companies in Britain. The closure of one of the region's most recognisable companies caused the loss of more than 60 jobs.
The site will close its doors next week after buyers collect their purchases.