Tiles worth £300,000 are up for auction as Stourbridge business is liquidated
Around £300,000 of wall and floor tiles are up for auction with Midlands-based Kumar and Company in the liquidation of a Stourbridge business.
Philip Ballard, of Ballard Business Recovery, was appointed voluntary liquidator for Essentially Tiles last month and he has instructed Kumar and Company to auction off the company’s assets.
The Walsall chartered surveyors, valuers and auctioneers are running an online auction sale, which continues until Thursday July 17, which also includes two forklift trucks and a long wheelbase van as well as grouting and adhesives.
Based on the Stourbridge Estate, on Mill Race Lane, Essentially Tile’s warehouse is currently stacked with 5,000 different product lines.
Rajiv Kumar, managing director of Kumar and Company, said: “This business has been running for quite a period of time and at one stage had outlets around the country before consolidating at the warehouse.
“It supplied both the building trade, decorators and the general public but unfortunately ran into a series of problems in recent times that have led it to be wound up.
“With around 5,000 different lines, we are dividing the stock of tiles into more than 260 lots – the total cost value of the tiles is estimated at £300,000.
“We expect considerable interest in the auction, particularly from other tiling wholesalers and retailers, as well as builders, developers and individuals working on their own house improvement projects.”
Kumar and Company offers specialist advice for the valuation of complex machinery and business assets.
Incorporated in 2009, the firm acts for insolvency practitioners, local authorities and private businesses across the UK.
It also offers valuation reports, pre-lending advice, financial reporting, asset disposal and recovery, and has a specialist audio visual sector knowledge and experience.
