AUCTION Atrium, the online auction house based in Kensington Church Street, London, has announced that it has ceased trading.

Chief executive Allison Earl Woessner told ATG that the company had ceased trading due to the withdrawal of its investment support.

"We are doing our very best to make sure that our clients will be protected in these difficult circumstances," she added. "Despite reports to the contrary the company is not in receivership."

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A fuller report will appear in next week's issue.