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Tuesday, April 17, 2023

Auction of contractor's plant follows collapse of construction group

Civil engineering equipment, owned by a Glasgow-based company that filed for voluntary liquidation with the loss of 150 jobs, is to go under the auctioneer's hammer on Wednesday, April 18th.

The assets of the Culdaff Construction Group are being sold off by plant & machinery specialists from King Sturge on the instructions of the joint liquidators, Blair Nimmo and Tony Friar, of Glasgow-based business advisors KPMG.

Gordon Calder, a partner at King Sturge, said that he expected a "high level of interest" to be shown in the sale from dealers and end-users, who would be bidding for more than 200 lots. He added that JCBs and other contractor?s plant, together with trenchers, tipper trucks, motor vehicles, trailers, fork lift trucks, office furnishings and workshop equipment, would be up for sale.

The auction is being held at Culdaff Construction's main base in Jessie Street, Polmadie, Glasgow, on Wednesday, April 18th, commencing at 12 noon. However, potential buyers will be able to view the items on Tuesday, April 17th, between 9 am and 4.30 pm and from 9 am on the morning of the sale.

Culdaff Construction, a £12 million turnover company, went into voluntary liquidation last month, with its demise being blamed on the dramatic increases in oil prices, which had impacted on its profitability. Most of its staff operated in Scotland but redundancies also occurred in Leeds, Teesside and South Wales