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Saws under the hammer | Saws under the hammer |
(about 4 hours later) | |
Dave Harvey BBC Business Correspondent, West The auctioneer said some lots were going for good prices | Dave Harvey BBC Business Correspondent, West The auctioneer said some lots were going for good prices |
This is not Sotheby's. The auctioneer stands on an upended bucket, surrounded by the sanders, planers, and saws he is selling. | This is not Sotheby's. The auctioneer stands on an upended bucket, surrounded by the sanders, planers, and saws he is selling. |
Everything is covered in a layer of sawdust, including many of the bidders. | Everything is covered in a layer of sawdust, including many of the bidders. |
Joiners and carpenters crowd among the equipment that turned out bespoke Crabtree Kitchens for 25 years. | Joiners and carpenters crowd among the equipment that turned out bespoke Crabtree Kitchens for 25 years. |
The auctioneer gets proceedings underway: "Good morning, it's a sad day - we've had a few of these recently." | The auctioneer gets proceedings underway: "Good morning, it's a sad day - we've had a few of these recently." |
"There were tears this morning, yes," Richard Morley tells me. He was one of Crabtree's directors, and knows every saw, every compressor. | "There were tears this morning, yes," Richard Morley tells me. He was one of Crabtree's directors, and knows every saw, every compressor. |
"A business is not just money and product - this was a family. But in the last six months our sales just vanished. And without sales, we had no deposits, and no cash. So we had no choice but to close." | "A business is not just money and product - this was a family. But in the last six months our sales just vanished. And without sales, we had no deposits, and no cash. So we had no choice but to close." |
'Paid holiday' | 'Paid holiday' |
It is a familiar story, although it is the first time I have seen the impact of the recession up so close. | It is a familiar story, although it is the first time I have seen the impact of the recession up so close. |
Ninety per cent of Crabtree's sales were to Londoners, working in the City. | Ninety per cent of Crabtree's sales were to Londoners, working in the City. |
"The bankers' bonuses have gone, their property is not worth what is was, they all bailed out", Mr Morley says. | "The bankers' bonuses have gone, their property is not worth what is was, they all bailed out", Mr Morley says. |
Across the West of England top-end furniture makers are struggling. | Across the West of England top-end furniture makers are struggling. |
Smallbone of Devizes is the biggest name, employing some 400 people. | Smallbone of Devizes is the biggest name, employing some 400 people. |
Shares have been suspended and the staff sent home on paid holiday. The management are seeking a buyer, and are hopeful the firm will survive if a larger company takes them on. | Shares have been suspended and the staff sent home on paid holiday. The management are seeking a buyer, and are hopeful the firm will survive if a larger company takes them on. |
So who, I wonder, are all these people fighting to buy furniture-making kit? | So who, I wonder, are all these people fighting to buy furniture-making kit? |
It is no fire sale. A sander the size of a small truck fetches £5,200. A big saw the size of a snooker table goes for £8,000. Good prices, the auctioneer tells me. | It is no fire sale. A sander the size of a small truck fetches £5,200. A big saw the size of a snooker table goes for £8,000. Good prices, the auctioneer tells me. |
Some, like John Bunford who bought the saw, are cabinet makers still making money. "I've just taken a new man on but who can tell? The next year could be good - or I could end up like this fellow, selling up." | Some, like John Bunford who bought the saw, are cabinet makers still making money. "I've just taken a new man on but who can tell? The next year could be good - or I could end up like this fellow, selling up." |
'Local customers' | 'Local customers' |
Some joiners have so little work they have changed tack. I met three men who were buying up equipment at bankruptcy auctions like this, polishing it up and selling it on. | Some joiners have so little work they have changed tack. I met three men who were buying up equipment at bankruptcy auctions like this, polishing it up and selling it on. |
Imaginative, yes, but it also tells you there is still a market for furniture kit, and by implication for bespoke furniture itself. | Imaginative, yes, but it also tells you there is still a market for furniture kit, and by implication for bespoke furniture itself. |
Bravest of all, perhaps, are Zoe Wilkins and Terry Mit. Ms Wilkins was Crabtree's designer, Terry Mit the master craftsman. | Bravest of all, perhaps, are Zoe Wilkins and Terry Mit. Ms Wilkins was Crabtree's designer, Terry Mit the master craftsman. |
They saw the once hugely successful firm collapse in six months. And now they are setting up a new kitchen firm, "Truly Bespoke". People who are not moving still want new kitchens, Ms Wilkins says | They saw the once hugely successful firm collapse in six months. And now they are setting up a new kitchen firm, "Truly Bespoke". People who are not moving still want new kitchens, Ms Wilkins says |
"Are you mad?" I ask them. "No, we don't think so," Ms Wilkins smiles. | "Are you mad?" I ask them. "No, we don't think so," Ms Wilkins smiles. |
"We are going to be smaller than Crabtree, and we will serve local customers, not Londoners." | "We are going to be smaller than Crabtree, and we will serve local customers, not Londoners." |
The plan makes sense. A decade of big bonuses bred an industry of top-drawer kitchen companies, but they all relied on the big city salaries. Truly Bespoke aims to make small beautiful. | The plan makes sense. A decade of big bonuses bred an industry of top-drawer kitchen companies, but they all relied on the big city salaries. Truly Bespoke aims to make small beautiful. |
"We don't want to get too big. So many firms are going out of business, but there are still people who want a handmade kitchen. And many who aren't moving house have decided to rebuild their kitchen instead," Ms Wilkins added. | "We don't want to get too big. So many firms are going out of business, but there are still people who want a handmade kitchen. And many who aren't moving house have decided to rebuild their kitchen instead," Ms Wilkins added. |
The firm has a head start. As well as picking up some of Crabtree's equipment at the auction, they have three customers, stranded when the firm went bust. But as I look around the saws and planers going under the hammer, I still think they are taking a brave step. | The firm has a head start. As well as picking up some of Crabtree's equipment at the auction, they have three customers, stranded when the firm went bust. But as I look around the saws and planers going under the hammer, I still think they are taking a brave step. |
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