P.N. Sharpe Limited (01132276): administration
- Status
- Administration ended
- Administration began
- 2024-03-28
- Administrators
- Christopher Robert Pole, Ryan Kevin Grant
- Administrators' firm
- Interpath Advisory
- Incorporated
- 1973-09-03
- Location
- Birmingham
- Industry
- 45111 Sale of new cars and light motor vehicles
Why it went into administration
- Funding withdrawn / unable to refinance
- Weak consumer demand
- Property / lease costs
- Rising interest rates
From the administrators' statement
The Company was incorporated in 1973 and is the immediate subsidiary and operating company of White Arches. Both entities were acquired by MBH Corporation PLC in 2023.
The Company operates out of three freehold properties and one leasehold site across East Northamptonshire. One of these freeholds, being the site at Norris Road, is owned by the Company. The site at Wellingborough Road is part owned by the Company. The remainder of the site at Wellingborough Road and the site at Little Irchester is owned by White Arches. The Company employs 55 employees.
3.2. Funding and financial position of the Company
Administrators' statement of proposals (2024-04-20) · Companies House register