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Goodmans Loudspeakers administration auction of assets -auction catalogue
Published on: 02 November 2004
Portland has been handling the administration of Goodmans Loudspeakers based in Havant. We are coming to the successful end of an extended trade out plan that has allowed many suppliers to work out their exposures fully and dividends of over 50% should be paid to unsecured creditors.
The auction might be an opportunity for you to acquire a range of production plant and office equipment, particularly those in manufacturing fields, and we wanted to bring this event to your attention.
A catalogue has been prepared and is available here.
The auction is being held on 10 November 2004 and there will be viewing for the two days beforehand.
James Tickell said "Goodmans is proving to be one of the largest local insolvencies for many years but they do not happen frequently. I am delighted about the successful outcome which I attribute to the close working relationship with the management team together with their commitment and effort.
Having a case of this size and complexity can be a mixed blessing in the market place in that whilst it is useful to demonstrate that we can handle such cases as competently as any national competitor, we would not want to give the impression we have moved away from our core SME market. It is interesting to note that we have handled more new administrations than all of the local competition put together, most of which comprise small rescue and turnaround situations."
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