Broach Hill Garage Limited (02003217): administration
- Status
- Administration ended
- Administration began
- 2022-08-16
- Administrators
- Sean Williams, Richard Pinder
- Administrators' firm
- Leonard Curtis
- Formerly
- Saxonwheel Limited
- Incorporated
- 1986-03-24
- Location
- Leeds
- Industry
- 45111 Sale of new cars and light motor vehicles
Why it went into administration
- COVID-19
- Weak consumer demand
- Funding withdrawn / unable to refinance
From the administrators' statement
Broach Hill Garage Limited (“the Company”) was incorporated on 24 March 1986 and operated as a franchised car dealership, service centre and body shop. The Company traded from leasehold premises at Beverley Road, Cranswick, Driffield, YO25 9PQ which is owned by the Company’s 100% shareholder, Angela Good.
Latterly, the Company operated its new vehicle sales under franchise agreements with MG Motor UK (“MG”) and SsangYong Motors UK (“SsangYong”) and held a unit stocking facility with Santander Consumer (UK) Plc (“Santander”), and Northridge Finance (“Northridge”) for the purchase of new and used vehicles. Santander hold a fixed and floating charge against the Company in respect of their facility; Northridge do not hold any formal security against the Company
The Company had historically been profit making, however it began facing financial difficulties when the COVID-
Administrators' statement of proposals (2022-10-17) · Companies House register