BPI Asset Disposal Solutions has sold the entire assets at Sheffield-based Lighthouse Modular following the companies cease of trading.
The sale include 500 auction lots and 100s of collections.
Lighthouse Modular was established in 2020 with the goal of transforming the construction industry with its high-quality modular homes. The company specialised in manufacturing timber-frame volumetric modular houses, apartments, and bungalows from its factory in Sheffield.
Despite its promising vision, Lighthouse Modular encountered cash flow issues, leading to its closure earlier this year.
The leadership team at Lighthouse modular were under pressure to vacate their premises as soon as possible, whilst maximising the value of their assets. There was a two-week timeframe for Lighthouse to vacate the 250,000 square foot factory.
Having previously worked with BPI, Lighthouse was aware of the company’s extensive database of industrial and commercial clients. This gave them the confidence that BPI could orchestrate the swift and successful disposal of their assets.
This monumental task involved cataloguing, marketing, and selling over 500 separate lots, including machinery, equipment, building materials, modular units, vehicles, and more. All while ensuring a smooth and efficient process to enable them to meet their tight deadline.
BPI’s team of specialists swiftly developed a comprehensive asset disposal strategy tailored to Lighthouse Modular’s unique needs.
BPI’s strategic approach delivered remarkable results for Lighthouse Modular. Over 500 lots were sold in the auction, including machinery, equipment, consumables, building products and modular self-contained units as well as diesel side loaders, overhead cranes, power movers, and various tools and materials.
By partnering with BPI, Lighthouse Modular was able to navigate the asset disposal process efficiently, freeing up their team to focus on critical business closure tasks.
A representative of Lighthouse Modular commented on the partnership: “After the announcement, the team at BPI Asset Disposal Solutions were given the challenge to clear and dispose of the entire assets at Lighthouse Modular’s 250,000 sq ft factory. It was a difficult task, but after 500 auction lots and 100s of collections, they completed the project ahead of schedule.”
Jamie Senior, Account Manager at BPI said: “The closure of Lighthouse Modular in Sheffield serves as an example of the challenges faced by businesses in the construction industry. Despite the unfortunate circumstances, the BPI team successfully managed the closure process, ensuring the efficient sale of assets and the clearance of the building within a tight timeframe. The dedication and expertise of the BPI team proved invaluable in helping Lighthouse Modular navigate through these challenging times.”
In periods of transition, companies like Lighthouse Modular need a reliable partner to navigate asset disposal efficiently and effectively. BPI’s expertise streamlines the process, maximises returns, and frees companies up to focus on the future.
For more information on BPI Asset Disposal Solutions, please visit https://www.bpiauctions.com/assetdisposal/
