The John Pye Business Assets department was instructed to assist Administrators RSM with undertaking a valuation of the filter manufacturing and packaging lines at Champion Laboratories (Europe) Ltd; a former private label automotive filter manufacturer, which operated out of a 106,951 sq. ft. premises in Mansfield, Nottinghamshire.
The plant remained in full production, traded by the Administrators for a month, in order to fulfil orders and reduce the 1.7m stock holdings.
Rent was approx. £400,000 p.a. so, with a limited marketing period, a series of disposal sale mechanisms were devised and implemented by the John Pye Auctions Business Assets team to protect asset and equity value.
These sales mechanisms included methods of private treaty, online tender (for the purpose built manufacturing lines) and online auction for stock and handling equipment in order to maximise asset realisation, all of which successfully realised the assets to the secondary market.
The premises were subsequently fully cleared, with John Pye Property providing consultancy and negotiations during that period, with a successful £204,716.23 plus VAT dilapidations claim managed to the subject property.