Holdings S & M Limited - trading as Triumph Restoration -specialised in the maintenance, repair and restoration of classic Triumph cars.
The business closed the doors at its premises in Rand, near Wragby, and Horncastle and went into administration in May.
The administrator handling the affairs of the company, Charles Ranby-Gorwood of CRG Insolvency and Recovery of Grimsby, has now instructed industrial auctioneers Eddisons CJM to sell off the company’s assets, which are to go under the hammer in an online auction that is scheduled to end on Tuesday (November 10).
Auctioneer Paul Cooper said: “The firm not only maintained, repaired and renovated classic Triumphs for members of the public but it also bought and restored vehicles on its own account.
“So the auction includes a number of restoration projects at various stages of progress, as well as an mountain of classic vehicle parts and spares, plus machinery, equipment and even specialist vehicle transport trailers.
“The star of the show is expected to be a TR5 sports car that is at an advanced state of restoration.
“Just 2,947 TR5s were manufactured, between August 1967 and September 1968.
“Fully restored examples have recently made as much as £50,000 and whilst this is not expected to hit anything like that it is attracting a lot of attention ahead of the sale.”
Mr. Cooper said: “There are a number of other classic Triumph sports cars awaiting restoration including a TR2, a couple of TR3As, a TR6 and a Spitfire Mk1.
“None of them are runners. Some are merely rolling chassis with or without engines
“And speaking of rolling chassis, the auction also includes a 1920s Rolls Royce rolling chassis with spare engine parts, axels and various other items.
“There really isn’t much of a motorcar there at the moment but even so it there has been lots of early activity and days before the end of the auction the bidding had hit a thousand pounds.
“One car that is in running order is a 1997 London taxi that has been converted into a wedding car with the aid of a white re-spray and the addition of a soft top roof.”
The auction extends to 163 lots, 68 of which are parts and spares - both reclaimed and replicated.
Mr Cooper said: “The level of interest has been amazing. We have been fielding enquiries from all over the place including the Continent and the United States.”
The viewing session for the auction is at the Eddisons CJM Auction Centre in Scunthorpe on Monday (November 9) 10am-4.30pm.
Because of the Coronavirus situation, attendance is strictly by advance appointment with the auctioneers (01724- 334411), with social distancing measures in force.
The catalogue is available at www.eddisonscjm.com. The online auction is scheduled to end at 1pm on Tuesday (November 10).