Canadian auctioneer Ritchies, which had just lost marketing support and backing from Sotheby’s over unpaid consignors, has all but ceased to exist. Here’s the CBC:
A well-known Toronto auction house has laid off its entire staff amid speculation of financial turmoil at the firm, CBC News has learned.
About 25 employees at Ritchies Auctioneers received layoff notices at the end of last week.
Ritchies has been in business since 1967. Last week, Stephen Ranger resigned as president and chief operating officer after 22 years with the company.