Epsom Motor Company Limited (04574857): administration
- Status
- Administration ended
- Administration began
- 2012-11-23
- Administrators
- Philip James Watkins, Philip Lewis Armstrong
- Administrators' firm
- FRP Advisory
- Formerly
- Red Lion 18 Limited
- Incorporated
- 2002-10-28
- Location
- London
- Industry
- 45112 Sale of used cars and light motor vehicles
Why it went into administration
- Weak consumer demand
- Property / lease costs
From the administrators' statement
21 The Company has operated as a Rover, Chrysler and finally Suzuki franchised motor dealership as well as being an authorised Chrysler and Suzuki repairer and service/parts provider. The Company was Incorporated in 2002 and traded out of leasehold premises in Epsom with a total of 15 employees
22 The Company had three key revenue streams, being vehicle sales, servicing and parts Both the new and used car markets have suffered a marked down turn since 2008 as a result of the reduction in consumer discretionary spending.
23 Following the reduction in vehicle sales in 2009 and the losses incurred, the directors implemented a number of measures to reduce the cost base. The directors sought to reduce expenses such as advertising and professional fees, directors’ remuneration fell and a number of employees were made redundant.
Administrators' statement of proposals (2013-01-17) · Companies House register