Valinor Restaurant was a large Chinese restaurant located in Matamata in the central North Island. It catered primarily to the Chinese tourist market servicing tour buses. The business was badly affected by the appearance of Covid-19 and was placed into liquidation on the 10th of November 2020. Skylarc were awarded the task of attending the site and organising the sale of the assets of the restaurant.
The Challenge
The approximately 100 seat restaurant needed to be emptied of all of its contents, consisting of a full commercial kitchen, restaurant with around 60 tables and a large amount of refrigeration equipment. Much of the equipment needed to be decommissioned, with the disconnection of gas lines, water supplies and electrical connections along with the physical removal of installed assets. Skylarc also needed to work with a highly cooperative landlord to ensure no damage to the building and it was left in a condition that they were happy with.
The Process
Skylarc organised the cleaning of all machinery and the building in general to present the assets to the highest standard. Skyarc described, photographed and tested all machinery to maximise buyer confidence and financial return as a result. The auction consisted of 138 lots with a setup time of one week. The auction ran online for ten days. Buyer collections ran for one week and operated by a strict appointment schedule to ensure a controlled number of people onsite for security and health and safety.
Marketing
A Facebook marketing campaign targeting the food and beverage industry combined with a free mailout to Skylarc’s extensive customer database were the most cost effective way to spread the word regarding the event.
The Result
The auction ran for 10 days and consisted of 138 lots, final turnover was in line with initial estimated sale return and the building was exited in a timely manner.