JD Classics Limited (03788194): administration
- Status
- In administration
- Administration began
- 2018-09-10
- Administrators
- Mark Granville Firmin, Richard Dixon Fleming, Richard James Beard
- Administrators' firm
- Alvarez & Marsal
- Formerly
- JD Classics Holdings Ltd; JD Classics Historic Racing Services Ltd.
- Incorporated
- 1999-06-11
- Location
- Brighton
- Industry
- 45190 Sale of other motor vehicles
Why it went into administration
- Creditor pressure / legal action
- Management failings / irregularities
- Loss of key people
From the administrators' statement
JDCL, which was incorporated on 11 June 1999, built a reputation for world class craftsmanship and engineering, alongside the trading of classic cars and customer racing activities. It operated from a showroom and restoration facility at Wycke Hill Business Park, Maldon, Essex. It operated from four other facilities in Maldon and leased a showroom in Mayfair, London. The Company had 63 employees at the date of the Joint Administrators’ appointment.
The Company's wholly-owned subsidiary, JD Classics LLC, operates a dealership from leased premises in Newport Beach, California.
In August 2016, Charme acquired a majority stake in the group. As part of the transaction, Derek Hood, the founder of JD Classics, retained a stake in the group. Certain entities in the group entered into secured senior lending facilities (the “Facilities”) with Lloyds Bank plc and a number of funds under the control of HPS Investment Partners LLC.
Administrators' statement of proposals (2018-11-20) · Companies House register