Business

Assets of failed fashion chain Exhibit go under the hammer

Marking 80 years in business are Wilsons Auctions managing director Ian Wilson (left) and group operations director Peter Johnston. Photo: William Cherry/Press Eye

WILSONS Auctions has been instructed to auction the assets of Northern Ireland-based fashion chain Cucco Retail, trading as Exhibit, following its fall into administration in October

The company - Britain and Ireland’s largest independent auctioneer - will sell by private treaty the company's interest in all stock, fixtures and fittings, website domain and brand name.

The private treaty auction will contain three lots including more than 11,000 items of clothing, clothing rails, mannequins and other fixtures and fittings as well as the Exhibit brand name and website domain.

Tender bidding runs until 1pm this Wednesday. A deposit of 10 per cent of the total tender amount will be required to be paid on submission of a tender form.

Meanwhile the family-owned business has begun a week of celebrations (and prize giveaways) to mark 80 years in business.

It was founded in 1936 by William J Wilson, a salesman in agricultural machinery and butcher, trading from one site in Mallusk.

The company has since flourished with son Ian Wilson taking over as managing director in 1976, expanding to a total of 16 sites across Northern Ireland, Scotland, the Republic of Ireland, England and Wales.

Wilsons Auctions has secured major contracts over the years with a continually growing list of well-known clients from both the private and public sectors across the UK and Ireland.

Currently employing more than 300 people across the group, Wilsons Auctions hosts around 1,000 auctions a year, processing a hammer total in excess of £200 million each year.

Ian Wilson said: “I am immensely proud at reaching this milestone and must thank the hard work and dedication of all our employees, as well as the support of our customers and clients throughout the group, who have helped us get to the position we are in today. I look forward to seeing Wilsons Auctions further growth in the future."

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