Also spoke to them today. They had no choice about selling to RDG, the liquidators have the only and final say about things. The office folks are less than happy about selling the stock to RDG due to their past practice of selling fake Myford stuff. Oh well.
The plant/machinery and any un-sold second hand machines are still available, but spares are all spoken for.
If there are liquidators, I would suggest the sell-off has been planned for a little longer than merely last weekend. Accountants don't move THAT fast, even when they smell blood. Maybe to seize assets, but not to resell them.
It's possible the Myford name, now registered in some new domain names, was one of the more valuable assets and is no longer in the hands of what remains of the company.
It may be quite coincidental that Mr Moore died when he did. Or perhaps someone managed to save his feelings by holding off for a few extra days.
ISTR that when working at a sunrise company (which all-too-quickly became a sunset company) that although the liquidators are typically appointed from a nationally-known accountancy firm, that the individual liquidators are acting as sole traders themselves with unlimited liability in their roles as liquidators.
Therefore, under the various consumer protection laws, the liquidators will be personally responsible to you for any goods sold to you as a consumer.
If the business is sold, and it you buy from the successors, then you'll rely on the normal processes.
I would imagine that you would be buying as seen and there will be no guarantee given.
My conversation this morning with Myford leads me to think that there will be no more from the company as we know it now, they had some hope before all the spares and accessories went in one lump to RGD.
Some of the plant was also heading onto lorries this morning but I don't know who bought that.
I'm sorry to see them go, I bought my 254s in 1986'ish I wonder who will get the original drawings for all the lathes etc?
Will the manufacturing rights be sold as well... who knows, time will tell all I suppose.
I have just got back from Myfords, spoke to Chris Moore and RDG who are there in force clearing out.
Bottom line is that RDG have bought all the spares and anything other than machines that is not bolted down, this includes the contents of the fitting shop, inspection and other departments. They have also bought all the jigs and fixtures.
They have also purchased the drawings and intellectual rights of the company.
They have bought / rented another 3,000 sq ft warehouse to put all this in and will be running this as a separate company. They will still sell the Indian imports but as imports and run a two tiered system to supply all needs. This direct face to face from RDG this morning.
What is on sale to the public are all the Myford lathes, millers and a few drilling machines plus the contents of the shop and secondhand accessories, vises, boxes of cutters odd collets etc.
The items are all priced up as of 12:30 today but not the machines but I was told these will be priced up by tomorrow.
The bits and pieces are reasonable =A330 for a 6" vise, used and not pristine, indexers from =A330, various chucks etc.
On the machines there are quite few new lathes and some early ML7's and S7's that are untouched as bought in for refurb.
Only pricing I saw was for a couple of ML10's at =A32,322 and =A32,554 each and a VMA attachment for a series 7 at =A32,000
Two shots of the machines for sale.
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Two shots of what is on offer to the public.
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I was told by the asset sales guy that machines will be sold at market value as there are the last to be produced and sold, there will be no more, his words, not mine.
There are some machines included in the plant like modified Myfords and couple of tatty 254's and one Mini-Kop and a couple of Mg12 grinders. You will have to see one of the asset guys over these to get a price.
All the good plant has already been sold. [ Hence my trip today ]
In the US, South Bend Lathe landed in the hands of an importer who apparently hopes to retain at least some of the quality.
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ain't cheap:
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That's the Light Ten. The original South Bend was charging ~$12,000 for a Heavy Ten (10" diameter, 5C collets) like mine before they folded.
The only feedback I've seen was about a defective Woodstock International lathe that they apologized for and gladly replaced. But it had slipped in unnoticed.
China can make a very good product if the importer keeps close watch on their quality control. I see that with OEM components for medical equipment etc.
--Yeowzers those prices are gruesome! Is this an indication of scarcity to come or were they really selling at this price when they closed the doors? Methinks I'll get some more insurance on my own Super 7!
--And now that you mention it, just how healthy are the other UK manufacturers of machine tools? Is Warco doing well? How about Boxford? Hope Myford isn't the tip of the iceberg..
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