News
Capital kit set for auction as company sale draws blanks
Begbies Traynor has given up hope of selling failed large-format printer Capital as a going concern and is now set to auction off the company's equipment.
Capital, which went into administration on 26 June, was advertised as being for sale in the Financial Times shortly after Begbies was appointed.
However, a spokesman for the company told PrintWeek: "Nothing came of it, there were no acceptable offers."
Begbies has appointed King Sturge Plant Machinery to sell the assets of the company instead.
An internet auction will be held on the week of 4 August, closing at 1pm on Friday 8 August, and viewings at the East London facility will be possible on 5-6 August.
Items up for grabs include large-format lithographic and screen-printing equipment, large-format print finishing equipment and computer-to-screen and screen-cleaning equipment.
King Sturge plant machinery partner Spencer Chapman said: "We have already received inquires from all over the UK as well as overseas, with calls coming in from the US, Australia and the Middle East.
"We expect interest to increase as we approach the auction opening date in early August."
Companies interested in viewing the auction can do so at www.kingsturge.co.uk
An auction of Capital's kit will take place from 4-8 August
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Comments
Colin Thompson - 18 July 2008
The issue with `all` this second hand equipment is, more companies will beable to `drive` down the GP!
Think about it!
Colin Thompson
Cavendish
www.cavendish-mr.org.uk
Jon Fennell - 21 July 2008
OK thought about it and your point is?
Surely the use of 2nd hand kit could reduce the overhead in cap ex to the business, enabling the printer to become more cost efficient, but not at the expense of his GP.
Give the printer the chance to own an asset instead of leased kit, which enables potential borrowing or re finance as the bank can see an asset.
Are you saying the guy with a press in a shed is reducing the GP of a company working solely on leased kit?
david parram - 24 July 2008
hi to all ex employees, hope you all working, if anyone knows of any jobs going please let me or anyone else know, many thanks and good luck out there.
david parram - 24 July 2008
you can contact me on 07826728885
Not Colin Thompson - 04 August 2008
The issue with 'all' this second hand equipment is, much of it will go abroad due to the 20% fall in Sterling over the last year!
Think about it!
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