An upcoming auction of heavy vehicles will see $6 million of trucks and trailers go under the hammer from a national transport operator that recently went into administration.
HM Advisory, the appointed administrators for Transtar Linehaul, who went into administration in mid-July, will auction off a significant national fleet of 38 late-model prime movers and 56 curtain-side trailers.
Pickles will conduct the online auction from October 20-23, providing operators nationwide with an opportunity to access well-maintained transport assets amid ongoing sector headwinds.
“The collapse of Transtar reflects the pressures currently being felt across the transport sector, where rising costs and tightening margins are forcing difficult decisions,” HM Advisory consulting liquidator and trustee Adam Shepard says.
“Our focus is on ensuring an orderly sale process that maximises returns for creditors while providing opportunities for assets to be productively reused within the industry.”
Pickles executive manager of valuation and advisory Joshua Hallowell says: “From an industry perspective, insolvency events like this highlight both the pressures many operators are under and the importance of strong secondary markets for fleet assets.
“The ability to realise value quickly and transparently is critical to supporting creditors and ensuring equipment remains productive within the transport network.”
The auction opens at 10am AEDT on October 20 and closes on 4pm on October 23, with the assets to be held at Spring Farm, NSW.
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The auction strategy is being managed by Pickles Advisory, a division of Pickles Auctions. Pickles Advisory partners with administrators, financiers and creditors to manage complex asset realisations through transparent, competitive sale processes that safeguard asset value and efficiently redeploy equipment back into productive use.
“Across the board we’re seeing heightened demand for used transport equipment, particularly late-model prime movers and trailers that allow operators to expand or refresh their fleets at lower capital cost,” Hallowell says.
“This auction provides opportunities for businesses of all sizes to secure well-maintained gear at competitive prices, while also demonstrating how the secondary market plays a vital role in keeping the sector moving.”
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