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The fine art division in Knutsford of auction house Wright Marshall.

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The 176-year-old company was placed into administration on June 26 when its rural auction mart was closed.

A spokesman for the joint administrators said: “Although talks had progressed to an advanced stage with a number of potential purchasers, no suitable offers were forthcoming and the division is now in the process of being wound down.

“All vendors have been contacted to repatriate their goods and this is expected to be completed by August 9 at which point the business will cease to operate and all 25 members of staff will be made redundant. The joint administrators are working with the Redundancy Payments Service to support affected employees at this difficult time.”

Consignments

Macclesfield and Liverpool auction firm Adam Partridge had held talks to buy Wright Marshall but did not proceed. However, Partridge said he is considering taking on some of Wright Marshall’s former staff and has been selling items originally consigned to the firm.

Partridge said: “We have had van loads of business from them - remaining consignments to Wright Marshall and fresh consignments direct to us from the area.”

Partridge had also held a valuation day in Knutsford recently.

The Wright Marshall group had employed a total of 129 people across eight sites in Cheshire and Derbyshire.

The company can trace its history back to 1843 but its current brand name Wright Marshall was created in 2014 when auction houses Frank Marshall of Knutsford and Wright Manley of Beeston merged. 

The rural auction mart in Cheshire closed in June and 37 people were made redundant at this division.

Lancashire’s Petty Estate Agents bought the property arm of the firm last month.