Wednesday, 27 January 2010

Video Blog #10: Rand Group Asset Sale Begins

The remains of a once successful Lincolnshire company is set to be picked over by online auction-goers The Lincolnshire Echo reports. The Rand Group, and its subsidiaries UCS Plant and UCS Civils, called in the receivers in November last year – with the loss of two hundred jobs.

Starting today bidders can bid for the former company's assets, with a week long ‘eBay-style’ sale through Eddisons auction website. But county business leaders say that while it is sad to see the firm fail, it could offer opportunities for other local firms.

Mr. Simon Beardsley, chairman of the Lincolnshire Chamber of Commerce, commented to the Lincolnshire Echo that the auction would elicit a variety of emotions.

"On one hand the creditors who were owed money at the time the company ceased trading will be hoping that the sale will gain the maximum return in order for them to receive a contribution towards the amounts they are still owed."

"There are likely to be tinges of sadness and regret from former staff and owners of the company.

"But, there will also be those who will see this as an opportunity to use their entrepreneurial spirit to bring pieces of equipment back into economic use."
Eddisons director, Mr. Jason Pinder, said they have already seen a great deal of interest from companies far and wide.

"It was a really good company and it's such a shame to see it go down."

"But there has been a high demand for catalogues.

"There are 800 to 900 lots, and the market for them could be worldwide."
Bidding starts this today at http://www.eddisons.com/.

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