City Motor Holdings Limited (04301565): administration
- Status
- Administration ended
- Administration began
- 2016-09-21
- Administrators
- William James Wright, Stephen John Absolom
- Administrators' firm
- KPMG
- Formerly
- Blakedew 328 Limited
- Incorporated
- 2001-10-09
- Location
- Reading
- Industry
- 45111 Sale of new cars and light motor vehicles
Why it went into administration
- Parent or group failure
- Property / lease costs
- Sustained trading losses
- Regulatory change or action
From the administrators' statement
The Company was incorporated on 9 October 2001 and acted as the main holding entity within the Group, which operated 13 car dealerships across three sites, Basingstoke, Reading and Newbury The Company employed 196 people
3.2. Funding and financial position of the Company
The Company was primarily funded by an overdraft facility with Lloyds Bank PLC On appointment, the Company’s bank account was tn credit
Administrators' statement of proposals (2016-11-24) · Companies House register