Unbeatablehire Limited (04306649): administration
- Status
- Administration ended
- Administration began
- 2019-12-23
- Administrators' firm
- Antony Batty
- Formerly
- Motorholme Limited; Medin Marketing Limited
- Incorporated
- 2001-10-18
- Location
- London
- Industry
- 79909 Other reservation service activities n.e.c.
Why it went into administration
- Property / lease costs
- Brexit
From the administrators' statement
The Company was formed in 2001 and rented out a fleet of approximately 400 motorhomes for holidays from fourteen leased depots situated around the country with the head office based near to Cambridge
The Company financed the motorhome fleet via loans from private lenders (“Lenders”) who provided all or part of the funding for each motorhome. Loan Agreements were for a three year term, at a fixed rate of interest Lenders generally have a Loan Agreement with the Company and a Chattels Mortgage ("CM") over a specific motorhome chassis. The CM should then be registered at Companies House in order to be valid. As noted above over 800 of these CMs have been registered at Companies House over the course of trading. A large number of Lenders also rolled their investment over at the end of the three year term.
The Company sourced all of their motorhomes fromm a company based in France, Chausson. Chausson would build a motorhome overcab on to a bare chassis provided by Ford and Fiat, for example a Ford Transit chassis. The Company would place an order with Chausson for a regular number of new motorhomes each year, against which the Company would raise loans to purchase them, typically for a three year term.
Administrators' statement of proposals (2020-04-29) · Companies House register