London 2012 Olympic Athlete Equipment Supplier Goes into Liquidation.
Acorn Precision Engineering (Nottm) Limited, a supplier of components to many high profile clients including London 2012 Team GB Athletes such as Sir Bradley Wiggins & Chris Hoy has gone into liquidation.
The local Nottinghamshire business that has been operating for over 25 years offered a range of precision engineering services including CNC Milling and Turning. The company used their machinery in the manufacture of bike components used by Team GB Athletes in the London 2012 Olympics.
The company went into liquidation in May this year, and is being handled by Licenced Insolvency Practitioner Joe Sadler, a Partner at Elwell Watchorn & Saxton LLP.
Mr Sadler said: “It was sad that Acorn Precision Engineering (Nottm) Limited had no alternative but cessation of trade despite a previous interest in a going concern sale. The machinery was maintained in an excellent manner and alongside John Pye & Sons we are anticipating a good interest at the Auction which should generate a reasonable return to all creditors. “
The company’s machinery and equipment will be auctioned off by local auctioneers, John Pye Auctions. An onsite viewing of the items will be held on Friday June 20th, 9am to 4pm at Unit 2, Cromford Road Industrial Estate, Langley Mill, Nottingham NG16 4FL. Auction bidding takes place online at johnpye.co.uk from 20th June and finishes Wednesday June 25th from 2pm.
Trevor Palethorpe, Head Valuer at John Pye Auctions said “When you consider that the company has managed to trade through some extremely difficult conditions from 2008 onwards and we are now at the point when we are seeing green shoots of recovery in the engineering sector, to see a well-established business fail now is really rather sad. We are now focused on working hard to get a good result for the company’s creditors “
Equipment being auctioned includes:
– 2001 Mazak Super Quick Turn 250 CNC Turning Centre
– 2006 Dahlih MC720 CNC Vertical Machining Centre
– 2006 Doosan S280N CNC Lathe
– 2003 Cincinnati 750 CNC Vertical Machining Centre
– 1999 Yang Eagle SMV-1000 CNC Vertical Machining Centre