Landwood Group, the leading Northern-based chartered surveyors, auctioneers and asset managers, is poised to hold the third and final on-line sale of coaches and buses belonging to GHA Coaches of Wrexham.
The sales follow GHA’s collapse into administration. More than 300 people were made redundant when the firm ceased trading in mid-July after receiving a winding-up petition over unpaid taxes.
Landwood Group, who have offices in Manchester and Leeds, were appointed by administrator from Grant Thornton to value GHA’s assets and then market and sell them to raise funds for distribution to creditors.
These assets consisted of nearly 300 buses, coaches, minibuses and vans, as well as miscellaneous engineering, garage and vehicle repair equipment.
Ben Lynch, a director of Landwood, explained: “Having agreed the strategy with the administrators, we are now running a phased disposal of the assets, with the first two of three on-line sales already having taken place in August and September. These two sales have both been a great success, with nearly 100% of the lots exceeding their reserve price.”
The hammer price for sale one was £795,850.
“The final on-line sale is already open, with the viewing day taking place on 18 October and the sale closing on 20 October. Visit www.landwoodgroup.com for more specific details and information.