Auction house owes me (From Cotswold Journal)

Auction house owes me

5:00pm Saturday 9th March 2013 in News

A COTSWOLD man has been left almost £500 out of pocket after a Broadway auction house closed suddenly.

Roger Davies, of Chipping Campden, is one of at least 25 people owed hundreds of pounds from the Auction Company (Broadway) Ltd in Kennel Lane, which ceased trading just after Christmas.

Mr Davies, who is owed £482, went in search of his money in January. He said: “I entered a late Victorian Norwich clock into a sale at their Broadway saleroom on December 9.

“I visited the saleroom on January 16 not having received payment, which was due after 28 days. The premises were locked and empty.”

Later Mr Davies received a letter from the auction house owner, Andrew Granger, apologising to customers. It read: “I am deeply sorry that this has happened and deeply regret not being able to settle outstanding accounts.

“We have all worked extremely hard to prevent this eventuality – I have put all my personal assets into trying to keep the company afloat. I now do not have a house, a car, a business or any means of income.

“The company is insolvent, cannot pay its bills and cannot continue to trade. The director wishes to dissolve the company, but if creditors object, the company will have to go into liquidation and as there are no funds to pay for a voluntary liquidation the creditors will have to petition the courts at their own cost.”

A spokesperson for Worcestershire Trading Standards said: “We can confirm the company has ceased trading at the address.

“We can't trace the owner and the fact that it was a limited company, which apparently has no assets, means it is unlikely anyone will get their money back.”