# City Basingstoke Limited (04380234)

> Why UK company 04380234 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/04380234

- **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

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/04380234/filing-history/MzE2MjY5MTc4NGFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/04380234

Contains public sector information from Companies House, licensed under the Open Government Licence v3.0.