Wales

Dawnus auction raises over £5m

Swansea-based Dawnus went into administration in March
Image caption Swansea-based Dawnus went into administration in March

More than £5m has been raised at an auction selling off equipment owned by collapsed construction firm Dawnus.

More than 2,000 people across the globe took part in the two-day sale of more than 1,000 items.

The Swansea-based firm went under in March, owing almost £50m. Administrators Grant Thornton say that sum is "highly unlikely" to be repaid.

Every item at the no-reserve sale was sold, including, lorries, excavators, crushers and bulldozers.

Image caption More than 2,000 people took part in the auction

Neil McIlwaine, of Euro Auctions said: "We had guys from Spain, Uganda, Nigeria, Holland; there were guys from the US.

"A lot of this equipment is marketable to countries across the world.

"We had a massive crowd on Thursday - around 400 people were on the floor - and we had a large net presence."

The second day of the auction was online only. About 45% of sales were online ones.

Two of the most expensive items sold were a Scania lorry which went for £160,000 and a Caterpillar bulldozer for £130,000.

"A lot of this equipment new is £400,000 to £500,000 per item," Mr McIlwaine said.

Image caption Over 1,000 items were up for auction

Last month it emerged Dawnus had unsecured debts of £40.5m to other businesses, £5m to its employees and £3m in taxes.

A secured loan of £1.5m made by the Welsh Government might be paid back, but potentially with some shortfall.

The government previously said it continued to work closely with the administrator to recoup the money owed.

About 700 people were working for the Swansea-based Dawnus Group or its subcontractors when it went under in March.

A total of 44 construction projects in Wales and England were halted at the time, including work on Swansea's Kingsway.

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