TEF Transport Limited's Fleet and Assets Up for Grabs in Online Auction
Deal News | Jan 15, 2025 | FM Business Daily
TEF Transport Limited, a Yorkshire-based transport, logistics, and warehousing business, is undergoing asset liquidation through BPI Asset Advisory following its recent administration. The company's operations included a fleet of over 30 Mercedes-Benz and DAF tractor units, 60 trailers, and additional rigid vehicles, alongside providing refrigerated storage and a logistics hub from its Scarborough warehouse. BPI will auction more than 200 lots through its online platform, with bidding closing in January 2024. Despite the cessation of trade, BPI's auction director Luke Hartshorn emphasizes the quality and upkeep of the assets, anticipating a strong interest from industry bidders.
Sectors
- Logistics & Transportation
- Auction Services
- Corporate Recovery
Geography
- United Kingdom – TEF Transport Limited is based in Yorkshire, UK, and BPI Asset Advisory operates nationwide in the UK.
- Scarborough – The company's operations and asset viewing are located in Scarborough, making it a focal point for this asset sale.
Industry
- Logistics & Transportation – This industry is relevant as TEF Transport Limited was a transport and logistics company offering services like refrigerated storage and nationwide pallet networks.
- Auction Services – BPI Asset Advisory, specializing in asset auctions across various sectors, is managing the sale of TEF's assets.
- Corporate Recovery – FRP Advisory's appointment as administrators indicates involvement in corporate recovery processes.
Financials
- Over 200 – The number of lots available for auction, including commercial vehicles and warehousing equipment.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| TEF Transport Limited | Target Company | Company | A logistics and transport company whose assets are being auctioned due to administration. |
| BPI Asset Advisory | Auctioneer | Company | An RICS-regulated team handling the valuation and removal of TEF Transport's assets. |
| FRP Advisory | Administrator | Company | Financial and executive advisers appointed as joint administrators for TEF Transport Limited. |
| Luke Hartshorn | Director | Person | Director at BPI Asset Advisory, overseeing the auction of TEF Transport's assets. |
| Kelly Burton and Joseph Fox | Joint Administrators | People | Appointed by FRP Advisory to manage TEF Transport Limited's administration. |