The food processing company went into receivership in October, putting 18 permanent staff out of work.

PPB Advisory, which is handling the company, tried to find a suitable buyer to take over the operation.

PPB's Nicholas Martin said the company did not receive any acceptable offers and moved to sell the processing plant and equipment.

PPB Advisory will use the auction proceeds to pay Clyne Foods' creditors, who are owed more than $1 million for fruit delivered last year.

More than 150 Clyne items went under the hammer on Wednesday, with equipment auctioned piece by piece.

The processing plant was auctioned as a whole and the Clyne Foods site on the Henty Highway will be put on the market in coming weeks.

Yarriambiack Shire Council chief executive Ray Campling said the auction was well-attended.

He said he was aware a lot of equipment was sold but had not been informed about the plant.

"It was sad to see it not operating and to come to the reality that we have lost a great business," he said.

"But Warracknabeal is a vibrant town.

''We'll bounce back and hopefully down the track some good news will come about new ownership.

"We are fairly optimistic and positive about the site being sold.

''Warracknabeal is a great town with great people and this is a world-class facility with fantastic premises.

"It presents an opportunity for a local business or outside industry to come into the shire."