Supertracker Limited (02645114): administration
- Status
- Administration ended
- Administration began
- 2022-04-11
- Administrators' firm
- Leonard Curtis
- Formerly
- K.L. Products Limited
- Incorporated
- 1991-09-12
- Location
- Whiteley Fareham
- Industry
- 32990 Other manufacturing n.e.c.
Why it went into administration
- Property / lease costs
- Sustained trading losses
- COVID-19
- Rising costs / inflation
- Supply chain disruption
- Funding withdrawn / unable to refinance
- Loss-making contracts / project overruns
- Regulatory change or action
- Competition / price pressure
From the administrators' statement
The company was incorporated in 1991 and took over an existing sole trader business started by Trevor Lovesy’s father. The business manufactures and sells wheel alignment and tyre changing/balancing equipment to garages, as well as providing the ongoing servicing for this equipment. Much of the equipment sold by the company is imported from a main supplier in aly and then assembled and badged as Supertracker in the UK.
The Supertracker brand is a well known name in the garage industry and can be found in many garage chains, independent workshops and car dealerships across the country. Customers include Kwik-Fit, ATS Euromaster and Formula One Autocentres. The equipment can also be found on vehicle production lines.
The company has historically traded well and has previously rebutted approaches from purchasers. In early 2020 Mr Lovesy instructed agents to try and find a purchaser for his shares but unfortunately this instruction coincided with the Covid-19 pandemic and this put a temporary hold on matters, which then fell away as the pandemic continued. To assist with cashflow during the pandemic the company secured a CBILS loan from National Westminster Bank Plc.
Administrators' statement of proposals (2022-04-19) · Companies House register