The upcoming auction for PSP Group’s assets marks a pivotal moment for businesses in the cladding industry.
- Following PSP’s cessation of operations, the company’s assets will be sold off in a two-phase auction.
- Over 600 lots, including advanced machining centres and traditional fabrication tools, are available online.
- The auction provides an opportunity for businesses to acquire well-maintained equipment suited for varying needs.
- Industry participants are encouraged to register early to view the offerings and participate in the bidding process.
PSP Group, a specialist in aluminium cladding, ceased operations in September following the appointment of joint administrators James Lumb and James Clark from Interpath in the same month. Despite attempts to rescue the company, financial pressures necessitated the liquidation of its assets. The comprehensive sale follows attempts to salvage the Durham-based business, which had made significant contributions to large-scale architectural projects involving aluminium facades, door, and window frames.
The auction, orchestrated by BPI Asset Advisory, is set over two phases, with the first phase concluding at 11am on 6 November and the second on 14 November. The initial phase will focus on equipment related to architectural aluminium such as the 2019 Schuco AF450 CNC Profile Machining Centre, alongside other modern machining and cutting tools.
Phase two broadens the offerings to traditional fabrication tools and equipment, including presses, rollers, and welding apparatus. Notably featured are items like a Bystronic Xact Smart Press Brake and diverse welding equipment, essential for companies looking to enhance or expand their existing capabilities.
BPI Asset Advisory’s director, Andy Cromack, highlighted the quality and maintenance of the available assets, emphasising the auction’s appeal to different scales of operation. He stated: “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”.
The extensive number of items—more than 600 in total—ensures that there are options to suit various business sizes and requirements. Potential participants are encouraged to register their interest promptly and plan viewings to assess the valuable offerings available.
The auction signifies a key opportunity for industry players to acquire high-quality equipment from PSP Group’s extensive inventory.
