The fine art arm of the north-west England property firm continues to trade while a buyer is sought.
Wright Marshall Limited was placed into administration on June 26 but trading is continuing across its fine art, property and professional services divisions. Its rural auction mart in Cheshire closed and 37 people were made redundant at this division.
The company employed a total of 129 people across eight sites in Cheshire and Derbyshire with 26 staff in the fine art auction houses in Knutsford and Beeston.
Administrators from FRP Advisory are dealing with the process and said “challenges facing the agricultural sector” and the “downturn in livestock volumes” led to “unsustainable losses” at its rural auction business.
Anthony Collier, joint administrator, said: “Wright Marshall is a well-established business in Cheshire and Derbyshire… Our focus now is on identifying a purchaser for the other aspects of the business.”
Interested parties should contact Simon Farr at FRP Advisory on 0161 833 3344.
The administrator said the auctions scheduled for the coming week are “unfortunately cancelled”.
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.
Wright Marshall is a RICS member and RICS regulated firms “protect the security of clients’ money”.