Manheim Auctions has closed its auction centre in Rotherham.
The BBC has reported that 30 jobs will go as a result.
The company has been trading in Rotherham for over 20 years.
Manheim said it has not been given the option to develop the site as it wanted and so has decided not to renew the lease when it comes to an end.
Mike Pilkington, managing director, Manheim Remarketing said:
“We are clearly very sad to be leaving Rotherham after such a long track record here, but the decision has been taken in the best interests of the business and ultimately our customers.
"Whilst we have unfortunately had to put the staff at Rotherham at risk of redundancy, it is very much our intention to relocate as many of them as practically possible to other Manheim locations.”
“The site at Rotherham is one of the very few locations where we do not own the freehold. This makes it very difficult for us to invest in re-development and site enhancement measures to bring facilities up to the necessary standards, in order to sustain our business in forthcoming years.
"With the lease expiring early next year, we have taken the decision to relocate all activities to our neighbouring Manheim Auctions locations.
"The vast majority of the main sales programme will be integrated into our auction facilities in Leeds, Mansfield and Knottingley, which are all within 30 miles distance.”
“The closure of our centre at Rotherham is in no way related to recessionary pressures. It is simply down to the restrictions that the current lease agreement places on our ability to develop the site in the way that our customers are demanding.
"Buyers and sellers who have previously used Rotherham, will be welcomed at our other auction centres in the local area at Mansfield, Leeds and Knottingley