Long-standing local business Alf Duncan Auctioneers of Gants Centre in Strand has abruptly closed its doors and entered voluntary liquidation, leaving local consignors owed hundreds of thousands of rands, unpaid debts and allegations of financial misconduct in its wake.

The company was officially placed into voluntary liquidation by special resolution registered on Wednesday 5 August, ending months of speculation among creditors struggling to recover proceeds for goods auctioned off as far back as late last year.

Among those severely impacted is Managed Moves SA, a local business operating since 2021, that partnered with the auction house to clear and sell client assets, including household furniture and paintings.

According to business partners Jacqui Solomon and Roxanne Murray, Alf Duncan Auctioneers owes their firm nearly R200 000, representing claims of 10 clients. Despite holding over 50 pages of official remittance advice notes confirming that items were successfully auctioned off in December and January, no funds were transferred into their bank account.

“Payments used to take up to three months, but over time, the process got slower,” said Murray. “Given that they held formal acknowledgments of sales and collected funds without remitting them, we believe they knowingly withheld funds while continuing to operate.”

Managed Moves SA confirmed they are initiating formal legal action and considering a criminal case. They said there are other complainants that have identical issues.

In prior direct discussions, founder Alf Duncan reportedly admitted to the business owners that the company had been failing for years before advising them to lodge claim forms. “We haven’t even received those forms,” Murray stated.

The fallout from the closure extends to the auction house’s commercial landlord, who asked not to be named. He said that he leased the building to Alf Duncan Auctioneers for six years with 18 months remaining on the lease agreement, and confirmed that the firm did not honour contractual agreements.

“They took everything and left rubble behind in the building,” the property owner said. “It took four workers three days and three truckloads of broken glass and planks just to clean the place.”

Despite recent claims by Alf Duncan that he was no longer involved with the business, Duncan personally signed the lease agreements and personal sureties. The landlord is currently seeking legal advice to enforce the personal sureties and recover outstanding costs.

Joint provisional liquidator Christiaan Bester, appointed by the Master of the High Court, confirmed that the company’s voluntary liquidation was formally registered early August.

Bester is scheduled to meet with former director Alf Duncan next week to take charge of the company’s books, affairs and physical assets.

Until an assessment of the insolvent estate is conducted, the liquidator cannot confirm the total monetary value of claims filed, the number of affected creditors or projected payout ratios for unsecured consignors.

DistrictMail & Helderberg Gazette’s attempts to reach Duncan for comment were unsuccessful.