THE future looks bleak for a Newtown construction products business which was placed in administration, as the entire contents of its factory are to be auctioned off.

Earlier this year F1 Modular, which employs 50 people at the factory on the Mochdre Industrial Estate, was placed into administration.

The firm produces construction modules and pods, such as timber frames, for new builds.

Its most recent accounts submitted to Companies House showed a loss of more than £1.2 million, almost half of its turnover.

Although the company is still in administration and a buyer being sought, the future continues to look bleak as GJ Wisdom and Co, auctioneers to HM Revenue and Customs, have been appointed by the administrators to sell off the entire contents of the eight acre factory.

A spokesman for GJ Wisdom and Co confirmed items up for auction include laminating and roll forming lines, welders, a large quantity of assorted hand and small tools, industrial warehousing equipment, forklifts, commercial vehicles, portacabins and a two acre site of scrap metal.

There are more than 400 lots, hundreds of thousands of pounds, which are going under the hammer at the online auction on August 12.

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To see the auction catalogue visit