LISBON – All the equipment and inventory of Bradco Chair Co. at Peppermint Corner went on the auction block Tuesday in a secured-party sale by Keenan Auction Co. of South Portland.
The auction marked the end of a family custom-cabinet business started in 1960 by Grace and Alton Bradbury. It soon gained a nationwide reputation for its handcrafted high-end wood furniture, particularly chairs, desired for use in businesses, offices, libraries, colleges and homes.
“It was very sad” to see everything go, said Bradbury’s son Robert, who said his father had a passion for the woodworking business, which he started with his mother to support their family. The business grew from a one-man operation to a manufacturing facility of 18,000 square feet and a labor force of more than two dozen.
Alton Bradbury sold the business and real estate to W.G. Ambrose Enterprises in 1988, and since 2003 the business has been owned by investors Bill Keefe and Dan Chasse as The William Daniel Co., but retaining the name of Bradco. Efforts to contact the current owners for comment were unsuccessful.
Ambrose kept the buildings and land as part of the deal. The real estate, including the two buildings, is still owned by Ambrose.
Keenan Auction Co. was hired by TD Banknorth to sell all the furniture production and woodworking equipment, and inventory, according to auctioneer Steve Keenan.
Keenan said more than 250 people were at the auction from 10 a.m through 4 p.m. Buyers included furniture manufacturers and retailers, as well as representatives of restaurants and inns who were interested in getting some of the 300 chairs and other pieces that were similar to items they already had. There were also many individual buyers.
The auction’s sales generated a figure that was within 5 percent of expectations, Keenan said, but declined to give a number. In all, by day’s end most of the 500-plus items were sold, he added.
Lisbon Economic Development Director Dan Feeney said Tuesday night that his office will be working with Ambrose to find buyers for the real estate or a new use for it. Feeney estimated there had been about 16 to 18 employees at the Lisbon Street business, but it had dropped “down to a few in the last month or so.”
There were no tax liens on the business or property, according to the tax collector’s office.
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