Over 1,000 items are up for auction today and Friday at an auction selling off the collapsed construction firm’s equipment and is expected to raise £4m.
Swansea-based Dawnus went under in March, owing approximately £50m. The firm has owed unsecured debts of £40.5m to private businesses, £5m to its employees, and £3m in taxes. Furthermore a secured loan of £1.5m made by the Welsh Government has yet to be paid back.
Over 250 people are expected to take part in the auction in Swansea on Thursday with Fridays auction set to be online on Friday. Items will include site dumpers, rollers, excavators, crushers, screens, and agricultural and commercial vehicles.
For Further information on the auctions http://www.euroauctions.com/Default.aspx?catid=10338
- Dawnus had its headquarters in Swansea but managed construction projects across the UK and overseas.
- The most recent company accounts show the company had a turnover of £170m in 2017, but it also posted a pre-tax loss of £1.35m.
- Last September, the company said it employed 700 people and was optimistic about the future.
- Prior to this in August 2018, during a UK trade mission to South Africa attended by Prime Minister Theresa May, Dawnus was unveiled as part of a consortium targeting overseas aid contracts.