Kumar and Company Appointed to Auction Assets of 90-Year-Old Engineering Firm

Midlands-based auctioneers, Kumar and Company, have been instructed to sell the assets of George Worrall Engineering, a well-established metalwork and fabrication business based in Leamington Spa.

Founded in 1938 in Barford, Warwickshire, the company ceased trading earlier this year. Kumar and Company, based in Walsall, has been appointed by a leading finance company to auction off a range of assets, including tool room equipment, press brakes, punches, bending machines, welders and a Ford Ranger XLT pick-up truck.

The online auction will be open for bidding until 27 March.

Rajiv Kumar, Managing Director of Kumar and Company, commented, “We’re seeing an influx of requests to manage sales at the moment. We’re running auctions every week to meet demand.”

Kumar and Company has also been instructed to organise an auction for electrical supplies from Wolverhampton Electrical Ltd, which ceased trading last year. The auction, featuring around 200 lots, will run online until 20 March.

“We’ve been tasked with realising the company’s assets to settle a supplier debt,” added Mr. Kumar.

A recent asset sale was part of the liquidation process for Coventry-based Quantum IT Distribution Ltd. Though modest in size, with assets valued at around £12,000, the sale generated a strong response and achieved nearly 100% of the cost value - well above the typical 30% to 50% recovery rate. iPhones and computer equipment proved especially popular.

Kumar and Company, founded in 2009, is a firm of chartered surveyors providing expert advice on the valuation of complex machinery and business assets. The firm works with insolvency practitioners, local authorities and private businesses throughout the UK.

In addition to asset and business auctions, Kumar and Company offers valuation reports, pre-lending advice, financial reporting, asset disposal, recovery and has specialist knowledge in the audio-visual sector. The firm also provides asset revaluations for statutory accounting purposes and valuations for corporate transactions, such as mergers and acquisitions.

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