Broadbridge Heath Motor Company Limited (00686986): administration
- Status
- Administration ended
- Administration began
- 2013-01-04
- Administrators
- James Richard Tickell, Carl Derek Faulds
- Administrators' firm
- Leonard Curtis
- Formerly
- Fisher's Garage (Horsham) Limited
- Incorporated
- 1961-03-20
- Location
- Fareham
- Industry
- 45111 Sale of new cars and light motor vehicles
Why it went into administration
- Sustained trading losses
From the administrators' statement
The company was incorporated in 1961 and traded as a motor dealership from leasehold premises in Broadbridge Heath The company held Peugeot and Citroen franchises and activities comprised new and used car sales, service and parts sales There were 33 employees at the time of our appointment
Until 2008 the company was a subsidiary of City Motor Holdings Limited, which also owned subsidiaries holding a range of franchises in Basingstoke, Newbury and Reading The ultimate parent was CWC (UK) Limited The funding for the company’s operation was provided principally by a secured bank overdraft which was guaranteed by the other companies under a group facility arrangement A holding company guarantee also supported the lease to the company’s premises, the obligations under the franchises to Peugeot and Citroen and a used car stocking joan agreement with Black Horse
A summary of the recent trading results in set out below
Administrators' statement of proposals (2013-02-08) · Companies House register