Inventory auctioned

The remaining inventory of collapsed Traralgon company Nielson Builders went under the hammer on Tuesday in an attempt to recoup a fraction of the millions of dollars owed to creditors.

Liquidator Eddie Muscat, of Mayfields Business Advisors, said the auction at the builder’s former Traralgon shop front saw about 100 bidders turn for tools, office materials and IT systems, raising about $50,000.

Sold at “auction realisation prices”, Mr Muscat said about $40,000 worth of items were subject to a Personal Property Securities Register, which returned most of the funds to secured creditors.