Stock from failed Skegness firm auctioned

Paul Cooper from CJM Asset Management with stock from failed Skegness firm STG Products
Paul Cooper from CJM Asset Management with stock from failed Skegness firm STG Products

A Skegness based company distributing award winning specialist building products has gone into liquidation.

STG Products Limited which had premises at the Skegness Business Centre, owned national distribution rights to CornerTape, a patented system for applying sealants to tiled surfaces and worktops that was developed in Norway.

The system is used extensively in domestic buildings and commercial premises, ranging from hotels to hospital operating theatres.

The liquidator handling the winding up of STG Products has instructed industrial auctioneers CJM Asset Management to sell off the assets of the business including stock worth some £250,000.

CJM director Paul Cooper said: “We’re not up to speed with the problems that hit the company. The product itself is highly regarded and has taken a quite a number of building industry awards both in this country and on the continent.

“Following the instruction of the liquidator we have removed all the supplies and stock from the company’s warehouse in Skegness and brought it to our auction centre in Scunthorpe for the auction.”

Mr Cooper added: “We’ve got a massive quantity of CornerTape itself, it feels like about enough to seal from here to the Moon, plus pallet loads of peripheral equipment such as fixing tools, scrapers, application kits, and silicon guns. It’s not very glamorous kit perhaps but there is serious money involved. We reckon the retail value of stock could top a quarter of a million pounds.”

The disposal has attracted enquiries from builders merchants and construction companies from all over the UK and abroad.

The online auction is scheduled to close at noon on Thursday, February 26. The catalogue is available online at www.cjmasset.com or www.bidspotter.co.uk. The public viewing sessions are Tuesday (1-5pm) and Wednesday (10am-5pm) next week.

As well as the assets of STG Products, the sale includes a wide range of high value, plant, machinery tools and equipment from various sources around the country. It will also include the town centre Christmas lights from Brigg that have recently been replaced.

The most unusual lot in the auction is a huge American-style casket coffin that arrived at CJM’s Auction Centre in the back of a people carrier.

Mr Cooper said: “I understand the vendor bought a job lot of the caskets but for some strange reason sales have not been going quite as well as expected. It would be just the job for a film or theatrical company that wants to add to its stock of props.”