Slaters of Abergele Limited (00488334): administration
- Status
- Administration ended
- Administration began
- 2018-03-15
- Administrators
- David John Standish, Richard John Harrison
- Administrators' firm
- KPMG
- Incorporated
- 1950-11-15
- Location
- Manchester
- Industry
- 45111 Sale of new cars and light motor vehicles
Why it went into administration
- Cash flow / liquidity pressure
- Sustained trading losses
From the administrators' statement
The Company was incorporated on 15 November 1950 and operated as a family run car dealership from two sites, Abergele and Mochdre. The Abergele site was used mainly as a car dealership and vehicle repair garage and the Mochdre site was used for servicing and repairs. The Company had 74 employees across both sites.
Due to the lack of funding available, and lack of support from the vehicle manufacturers, the Company ceased trading on the appointment of the Joint Administrators.
3.2. Funding and financial position of the Company The Company was funded via an overdraft facility provided by Barclays. This was fully
Administrators' statement of proposals (2018-05-24) · Companies House register