Booze belonging to company behind cancelled gin festival to be sold at auction
PUBLISHED: 20:30 09 August 2018 | UPDATED: 11:15 10 August 2018
Thousands of bottles of booze belonging to a company which cancelled a gin festival in Norwich are to be sold off at auction.
West Yorkshire-based Gin Festival Limited went into administration last month after attempts to find a buyer for the struggling company failed.
The firm was behind the scrapped Norwich Gin Festival which left hundreds of advanced ticket buyers out-of-pocket.
The event was scheduled to take place at St Andrews Hall from July 6 to July 8, but was cancelled the day before its launch.
Administrators handling the winding-up of the business have now instructed auctioneers Eddisons CJM to dispose of the firm’s remaining stock.
CJM director Paul Cooper said: “The auction will see over 1,200 bottles of craft gin going under the hammer, some of which sold for in excess of £40. “The total retail value is in excess of £50,000 and I imagine considerably more than that at festival prices.”
“We have divided most of the gins into practical lots of two to six bottles so that members of the public can get involved in the bidding as well as trade buyers.
“Everything in the auction is being sold without reserve, so it makes what it makes.”
Mr Cooper said “huge” quantities of mixers are also being auctioned and will be sold off in larger lots.
He added: “We have also been instructed to dispose of all the festival furnishings and equipment that they used to stage events around the country.”
He said items include bar equipment, a sound system kit and a “selfie stand”.
In total the auction extends to over 350 lots.
Administrators Julian Pitts and Nick Reed of insolvency specialists Begbies Traynor are handling the winding-up of the business.
The lots will go on sale at Eddisons CJM in Scunthorpe on Monday, August 13.
As well as the Norwich festival, 19 other events were cancelled after the company went into administration.
Twenty thousand advance tickets had been sold for the events.
Buyers were advised to contact Paypal or their credit or debit card providers to check if they are covered for their loss.
All 27 members of staff employed by the business were made redundant.