The well-known farm machinery and vehicle auctioneering business Paul Cooke Auctions, based in Naas, Co Kildare, has stopped operations and turned staff away in the run-up to Christmas.

The Irish Farmers Journal has been informed that the business has left a number of clients, including Bord na Móna, awaiting payment.

Paul Cooke Auctions recently sold over 200 lots of machinery, including a large number of tractors and diggers, on behalf of Bord na Móna at Derrygreenagh, Co Westmeath, on 11 November.

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Bord na Móna has confirmed to the Irish Farmers Journal that it has initiated legal proceedings in relation to the issue.

“Bord na Móna can confirm that we have issued legal proceedings regarding the matter. As this issue is now sub judice, Bord na Móna will not be making any further comment until this process is resolved.”

Paul Cooke staff were told on Friday 8 December that the company would be halting all activity. Telephone calls to the auction office, Paul Cooke and his agent now go unanswered. The company’s Facebook page is also unavailable.

Paul Cooke Auctions is owned by parent company Moybrone Holdings Ltd, which is owned by Paul Cooke, who has an address at Moybrone, Enniskillen, Co Fermanagh.

Investigation by the Irish Farmers Journal shows that the company made a loss in 2015 and 2016. In its 2016 accounts, the company’s auditors expressed concern that the company’s current liabilities exceeded its total assets.

The company is known for hosting large machinery sales and also hosted the Farm Tractor and Machinery Trade Association (FTMTA) auction on 30 September, where over 250 lots went under the hammer.

However, the auction company also sold equipment on behalf of farmers and agri-contractors, and clients have reportedly been removing machinery from the sales yard.