Page last updated at 07:51 GMT, Tuesday, 20 January 2009

Charity auction bidder cannot pay

Woolworths cheque
The money raised is being donated to the National Autistic Society

A charity auction for a 97,916 cheque, believed to be the last ever issued by Woolworths has failed after the winning bidder said he could not pay.

The cheque arrived at Telecoms support firm TMTI the day before the store went into administration last November.

The Somerset-based company was told it would bounce and decided to sell it on online auction site eBay for charity.

The firm has been told the 1,080 closing bid cannot be honoured and is hoping the next highest bidder can pay.

I'd like not to have to start the whole thing over again
Neil Jones, director
Neil Jones, commercial development director, said: "We're in a state of some frustration and some annoyance.

"We're just waiting to hear back from eBay, there are fairly strict rules on bids that don't go through to conclusion.

"We are hoping to go to the next highest bidder to tell them they've won the item after all."

Money raised by the auction is due to go to the National Autistic Society.

"I'd like not to have to start the whole thing over again," said Mr Jones.

"My current assumption is that provided the next highest bidder is a genuine bid, perhaps we'll be able to conclude the deal with them which will still generate a reasonable donation for the charity."

Regarding the loss of the 97,916 payment for services, he said the business was successful and strong enough to survive, although a small number of staff have had to be made redundant.

He said TMTI had joined the list of unsecured creditors waiting to see the outcome of the administration process.

Print Sponsor

Woolworths cheque in charity sale
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26 Nov 08 |  Business

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