WILSONS Auctions, the UK and Ireland’s largest independent auction company, has received the Innovation and Technology Award at the recent Turnaround, Restructuring and Insolvency Awards.

The awards evening, which took place at Hilton London Bankside, championed the work and commitment of firms, teams and individuals in turnaround, funding, corporate restructuring, insolvency and personal debt advice.

Wilsons Auctions, which has a site in Newport, was recognised for its innovation over the past 12 months, having sought to develop the world’s first fully insured storage and sale facility for crypto assets.

The judges said: "In an impressive submission, Wilsons Auctions showed genuine innovation, particularly in the area of crypto currency. The entry showed good evidence of uptake and how this could really be the future of industry Wilsons Auctions group operations director Peter Johnston said: “I am delighted we were recognised at this year’s TRI Awards. The Innovation and Technology Award is testament to the hard work and dedication of the Asset Recovery Department over the past 12 months to develop our offering into crypto assets.

“As a forward-thinking company it is important to constantly evolve our offering to ensure we are ahead of our competitors while meeting the demands of our clients. Building this service has been challenging but rewarding as we are able to offer a bespoke service which is not offered by any of our competitors anywhere in the world,” he said.

Since the formation of the specialist Asset Recovery Department four years ago, the auction company works with more than 40 law enforcement agencies across the UK and Ireland and in recent years has been responsible for realising in excess of £100m worth of assets which has been returned to the public purse. This year alone Wilsons Auctions has secured contracts with the Metropolitan Police, West Midlands, Thames Valley, Cheshire and Staffordshire Police Forces.

A family owned business, Wilsons Auctions was formed in 1936 in Northern Ireland and has grown to become the largest independent auction company in the British Isles with more than 400 members of staff and an annual hammer total in excess of £320m.