Carving out new beginnings: How BPI helped Axion Furniture Makers sell business assets to retire successfully
Axion Furniture Makers achieved retirement success with the support of BPI Auctions, executing a strategic asset sale to sell business assets through online auctions.
Britain’s woodworking industry is grappling with a harsh reality. Surging material costs, a dwindling pool of skilled craftspeople, and ever-evolving health and safety regulations are all putting pressure on this traditional sector.
London-based Axion Furniture Makers Ltd. made the decision to close its doors earlier this year, due to these challenges. The decision was made easier by the fact that the owners were looking for an efficient way to exit their business that would also top up their pension pot.
By partnering with BPI Asset Disposal Solutions, specialists in selling business assets, they were able to achieve a smooth transition, streamlining the retirement process and maximising their returns.
The challenge
Axion Furniture Makers, a family-run business with a long history, felt the squeeze of rising material costs and a challenging market. With skilled woodworkers becoming increasingly difficult to find, together with the rising price of timber, continuing operations became untenable. Through the expertise of asset disposal specialists, Axion Furniture Makers could easily find solutions to sell their business assets, paving the way for a successful retirement.
The asset disposal solution
Seeking a smooth and efficient way to wind down their business, Axion Furniture Makers discovered BPI through an online search. BPI’s expertise and reputation within the industry for assets disposal made them a perfect partner for Axion.
BPI quickly conducted a comprehensive review of Axion’s assets, cataloguing and photographing over 70 lots of woodworking machinery and tools.
Leveraging their extensive industry contacts, BPI reached out to potential buyers for high-quality woodworking equipment. This ensured a wider audience for Axion’s assets, maximising their value. Following this targeted marketing approach, BPI conducted a straightforward and transparent auction process.
The results of selling business assets with BPI
BPI’s efficient 5-week asset sale process ensured a successful outcome, with 63 out of 70 lots selling in the online auction which generated a total of £17,000 for Axion.
A representative from Axion Furniture Makers commented on the partnership: “We are incredibly grateful to BPI for their support during this time. Their professionalism and expertise made the process of selling our equipment stress-free. We would highly recommend BPI to any woodworking business looking to dispose of assets efficiently.”
Jamie Senior, Account Manager at BPI said: “The closure of Axion Furniture Makers exemplifies the challenges currently facing businesses in the woodworking industry. Our goal is to help businesses navigate the complexities of asset disposal and ensure a smooth and successful transition. We’re proud to have achieved this for Axion Furniture Makers.”
Axion’s story shows that, even in challenging times, the right partnership can lead to a successful outcome.
With BPI’s expertise, businesses of all types and sizes can achieve their goals, whether they are navigating retirement, raising capital for growth, or transitioning to a new chapter. Discover more about BPI Asset Disposal Solutions and contact our asset disposal specialists to get started today.
