Auctioneers hope to put gloss on liquidation

Kingstonian Paints Ltd, one of Europe’s leading suppliers of specialist paints, varnishes and coatings, which was established in 1894, ceased trading in December.

Scunthorpe-based industrial auctioneers CJM Asset Management has been instructed to dispose of the firm’s machinery and equipment, as well as its entire remaining stock of paint.

CJM director Paul Cooper said it was just the latest sign of how hard economic conditions were hitting local companies.

He said: “Manufacturing is an ultra-competitive business in which production goes to the people who can do it at the lowest cost – and Kingstonian had in fact outsourced much of their paint manufacture. But on top of all that, any business depending on construction, building or housing is likely to be struggling at the moment.”

Next Tuesday’s auction in Scunthorpe will also include the entire remaining stock of another Hull business, International Kitchens & Bedrooms, which sold German and English kitchens from branches on Holderness Road and Boothferry Road.

The auction will also see the last remaining assets of Quibell & Son, one of East Yorkshire’s oldest construction firms, auctioned off.

Founded in 1875, the company built some of Hull’s most well- known buildings including the Guildhall.

Now in administration, the firm’s machinery, equipment and materials were sold in an online auction in December.

On Tuesday its fleet of vehicles – including two cars, several vans and a transit tipper – will go under the hammer.

Viewing is on Friday between 10am and 4pm. next Monday between 1pm and 7pm and on Tuesday from 8.30am until the start of the sale at 10 am. Catalogues are available from CJM or online at www.cjmasset.com.