ONE of Newcastle’s most iconic businesses and motor auction houses has entered voluntary administration.
Gamers Motor Auctions at Mayfield West was yesterday placed in the hands of an administrator by the company’s board of directors.
Administrator Lloyd Kerr from insolvency firm Jirsche Sutherland confirmed his appointment, saying it would be some time before the extent of the company’s problems are known.
Some casual staff left the business yesterday but the company’s full-time employees are continuing to work until further notice.
‘‘We understand that cash flow within the company has been very tight,’’ Mr Kerr said.
‘‘We will be reviewing the viability of the business, going through the normal administration process and writing to all potential creditors.
‘‘We’ll also be talking to interested parties who might be interested in taking over the business which is an icon in the city.’’
Vehicle auctions planned for this week have been cancelled but MrKerr said there was no risk to any property being removed from the premises, including privately-owned cars being stored for auction.
‘‘The business is currently in possession of many private vehicles,’’ Mr Kerr said.
‘‘Everything here is being held securely and there is no need for the owners of those vehicles to panic or rush in.’’
Gamer’s Motor Auctions opened on Parry Street at Newcastle West in 1963 but recently moved to new premises at Mayfield West’s Steel River Industrial Park.
It was first operated by brothers Barry and Graham Gamer before a well-publicised ‘‘Gamer versus Gamer’’ split in 1992 when the brothers fought each other in the federal court.
The feud began when Graham Gamer established Graham Gamer’s Valley Motor Auctions which Barry Gamer argued was too similar in name to Gamer’s Motor Auctions which he continued to operate.
Barry Gamer eventually won out, with brother Graham reverting to calling his business Valley Motor Auctions.
Valley Motor Auctions continues to operate and is not linked in any way to the operations of Gamer’s Motor Auctions.
Neither of the brothers were able to provide comment yesterday.