Nidd Vale Motors,Limited (00169796): administration
- Status
- Administration ended
- Administration began
- 2012-11-30
- Administrators' firm
- Leonard Curtis
- Incorporated
- 1920-08-21
- Location
- Manchester
- Industry
- 45111 Sale of new cars and light motor vehicles
Why it went into administration
- HMRC / tax arrears
- Funding withdrawn / unable to refinance
- Property / lease costs
- Rising interest rates
- Creditor pressure / legal action
- Sustained trading losses
- Competition / price pressure
From the administrators' statement
The Company traded from two sites at Nidd Vale Corner, 91 Leeds Road, Harrogate, North Yorkshire HG2 8EY and Deighton Road, Wetherby LS22 7DG The Company also had a storage facility at Follifoot, Harrogate The principal trading activity of the Company was the retail of motor vehicles, MOT testing, servicing and repairs,
The Company was bought by Nidd Vale Group Limited in 2007 as part of a secondary management buy out The business operated under three franchises being Vauxhall, Seat and Mazda and also operated a successful wholesale division selling nearly new cars to other retailers
Due to the downturn in the economy in 2008, the retail market for used cars fell to an all time low which had an adverse impact on the previously successful wholesale division of the Company and led to a fail in operating profit in both the retail and wholesale divisions
Administrators' statement of proposals (2013-01-28) · Companies House register