Gowrings of Newbury Limited (04408844): administration
- Status
- Administration ended
- Administration began
- 2016-09-21
- Administrators
- William James Wright, Stephen John Absolom
- Administrators' firm
- KPMG
- Formerly
- Focalphase Limited
- Incorporated
- 2002-04-04
- 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 4 April 2002 and operated the wider group’s Ford sites in Basingstoke and Newbury, where it sold both new and used cars 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 FCE Bank PLC, Black Horse Limited and other third party funders On appointment, the Company’s bank account was in credit
Administrators' statement of proposals (2016-11-24) · Companies House register