Background Information

The business operated as a long established, award winning distributor of accessories, add-ons and enhancements for digital devices. 

The Brief

LSH were requested to attend the company premises, inspect and schedule the significant tangible assets onsite, before providing a valuation and disposal strategy.  

In order to maximise the potential realisations for the benefit of creditors, we also commenced marketing of the tangible/intangible “business assets” upon a heavily restricted timeframe. 

Challenges

The considerable volume of retail electrical and electronics stock located onsite included a significant proportion of goods subject to Retention of Title. LSH assisted the Liquidators in contacting the numerous suppliers, arranging stock identification visits, ratification of the subsequent claims and collection of these goods. 

In addition to the stock subject to Retention of Title, a significant quantity of stock was located offsite at various Amazon fulfilment centres. LSH assisted and co-ordinated the return of the vast majority of this stock which, resulted in additional realisations to the proceedings  

The stock was originally stored over c.100 bays of pallet racking and equated to over 60,000 individual items. Our site representatives and LSH auction team dedicated a considerable amount of time ensuring these items were categorised, arranged and listed in suitable lot sizes to maximise returns.

Our Solution

Despite a positive response from our initial marketing, no acceptable offers for the business and assets as a whole were received. The business ceased to trade and we proceeded with a disposal programme of the company’s tangible and intangible assets by way of Online Auction & Private Treaty sale.

Auction Results

The sale attracted considerable interest with over 200 registered and 80 successful bidders. 

Total realisations achieved were in the order of 30% above our original estimates. 

• 97% of the lots sold in the auction. 
• 6337 bids placed

Client Testimonial

“We have been delighted with the service delivery from Lambert Smith Hampton. From our initial engagement, their professionalism and expertise were immediately evident, alleviating any concerns. Lambert Smith Hampton navigated the often complex and sensitive nature of the instruction and dealt with any potential conflicts before they arose. Their national team were diligent and reactive throughout providing the level of consistency we required”.
- Debi Harvey – Harveys Insolvency