Leake Auction Company Rumored Closing

[Lee Stewart]

Breaking New Alerts: Leake Auction Company Rumored Closing

Recently we received a tip that Leake Auction Company, under the ownership of the Ritchie Bros., is shutting its doors. That tip was something of a contact of a contact situation, and it passed on the word that employees were notified when it would be their last day. While no employees were willing to speak with us on the record, which is completely understandable because of any legal repercussions breaking confidentiality agreements could bring, we were told the site inventory would disappear overnight. Right now, the site has a single vehicle listed.

Whether or not Leake Auction Company is actually closing or will move forward as a brand is murky at this point, but it definitely will not be moving forward as part of the Ritchie Bros. network. At the moment we can't definitively point to a reason for the possible closure, but it's likely linked to the COVID-19 shutdowns and the company lacking the proper structure to rely solely on online auctions to stay open. Countless other companies have closed their doors for similar reasons lately and it's always a sad thing to see.

https://www.motorious.com/articles/n...mpany-closing/

[muscle_collector]

i just asked jimmy leake 3 about it and he said they closed the doors 6 to 8 weeks ago. mentioned he should take it over, but he said they wanted way too much money for it. hate to see a world without leake auction so i said he should just start it back up under his name.

[Xplantdad]

From Muffy & Gary Bennett:


"Yes, it is true. Ritchie Bros opted to exit the collector car sector. We are working towards a management acquisition."