City Basingstoke Limited (04380234): administration
- Status
- Administration ended
- Administration began
- 2016-09-21
- Administrators' firm
- KPMG
- Incorporated
- 2002-02-22
- Location
- Birmingham
- 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 22 February 2002 and operated the group’s Kia, Suzuki, Seat and Skoda operations at Basingstoke and Newbury where It sold both new and used vehicles It did not directly employ any staff
3.2. Funding and financial position of the Company
The Company was primarily funded by an overdraft facility with Lloyds Bank PLC The majority of the vehicles were funded by credit provided by Volkswagen Bank GmbH, Hyundai Capital UK Limited, Black Horse Limited and other third party funders On appointment, the Company's bank account was tn credit
Administrators' statement of proposals (2016-11-24) · Companies House register