We have been appointed by the Joint Administrators of Phones 4U to manage the remarketing and auction sale of approx. 600,000 items equating to £10.8m in retail value.
These items have been relocated to a secure John Pye Auctions holding facilities for processing.
As the UK’s fastest growing auction house, we will start drip feeding Phones 4U stock volumes through our online auctions, starting next week, which will be advertised nationally in what is the UK’s biggest retail liquidation of 2014.
Weare expecting a huge wave of auction demand from both the UK and overseas, including the Far East for the stock.
Rob Hunt, Ian Green and Rob Moran from PwC were appointed as joint administrators of Phones 4u Limited on 15 September 2014.
John Pye Auctions MD Adam Pye said: “We look forward to supporting PwC with this Administration process to achieve optimum realisations for Phone 4U creditors for such a high profile corporate insolvency.”
Head Auctioneer Trevor Palethorpe said “While it is always very sad to see such a huge national business go into Administration, it does provide a rare opportunity for the general public to purchase merchandise for a fraction of what they would pay on the high street .”
Adam Pye added: “Over the last 10 years John Pye Auctions has developed a market leading position for retail clearance resale and auction offerings on behalf of our national clients.
“Our auction model is focused on the end user, providing accessible online auctions open to the public to achieve the highest realisations for our clients. We do not offer wholesale trade job lots.”
We are the UK’s biggest commercial bricks and mortar auction house, working on behalf of 70% of the UK’s Retail PLCs and Partnerships, including John Lewis, managing approx. 50,000 pallets of surplus and clearance stock to secondary market through online auction.
Business has grown considerably in the last three years, from one site to 12 auction sites across the UK and was voted as the UK’s Insolvency and Business Asset Auctioneers of the Year by the UK’s National Association of Valuers and Auctioneers, comprising of more than 300 members.
“We anticipate this disposal will be followed closely by industry buyers and end users alike, both in the UK and overseas and we have the infrastructure, both digitally and in bricks and mortar, to be able to service such market demand.
Adam Pye added: “All of our auctions are now online to make them more accessible but we still undertake saleroom preparation and viewing, so bidders can physically inspect all goods on-site to assess their suitability, in accordance with Auction Law.”