Transport firm’s assets to be sold-off after entering administration

The assets of a transport, logistics and warehousing business are to be auctioned by BPI Asset Advisory.

The RICS-regulated asset value has been instructed to value and dispose of TEF Transport’s company assets following the appointment of Kelly Burton and Joseph Fox of FRP Advisory as joint administrators on December 9, 2024. 

The Yorkshire-based business operated a large fleet of commercial vehicles and trailers, with more than 30 Mercedes-Benz and DAF tractor units and 60-plus single and twin deck curtain side trailers. The company also utilised a number of rigid vehicles. 

Operating from more than 75,000 square feet of warehousing space within Great Hill Scarborough Business Park, the business offered refrigerated food grade storage and distribution, general haulage and national pallet network services. 

The site provided a dedicated logistics hub for office staff along with an onsite workshop for general maintenance and repairs of the fleet. 

More than 200 lots are now available through BPI’s online marketplace BPI Auctions. Bidding is set to close at 12-noon on Wednesday, January 29. Viewing will take place on January 28, between 9am and 2pm.

BPI Asset Advisory is seeking interested parties for the company vehicle fleet, warehousing equipment and business equipment. 

BPI Asset Advisory director Luke Hartshorn said: “Whilst it is unfortunate that the business could no longer continue to trade, the online auction offers an opportunity for businesses within the industry to bid on a range of well-maintained commercial vehicles and trailers. 

“The size of the fleet and supporting assets means there is a variety of ages of vehicles, trailers and equipment and in turn it is likely there will be something to suit companies of various sizes.

“Whilst we know the haulage industry is one that has been impacted in recent times, the vehicle fleet and warehousing equipment on offer generally appear to be well presented. 

“We anticipate this sale will be popular within the industry and urge bidders to register their interest as soon as possible and make arrangements to view the assets.”

The trading site is also offered to the market. Interested parties are encouraged to contact the agent's office for further information.

BPI Asset Advisory is a RICS-regulated team of specialist surveyors delivering valuations, disposal advice and RICS standards for instructions including corporate recovery, secured lending, accounts and insurance valuations.