NOW Motor Retailing Limited (05777032): administration
- Status
- Administration ended
- Administration began
- 2018-05-01
- Administrators' firm
- Evelyn Partners
- Formerly
- Pedalfront Limited
- Incorporated
- 2006-04-11
- Location
- Southampton
- Industry
- 45111 Sale of new cars and light motor vehicles
Why it went into administration
- Sustained trading losses
From the administrators' statement
The Company was incorporated in 2006 and commenced trading around this time by acquiring the trade and assets of Lance Owen, an established Vauxhall! dealership in West London, with sites at Addlestone, West Byfleet, Heathrow, Kingston-upon-Thames and Richmond-upon-Thames. The Company was a joint venture between the director and Vauxhall.
The company traded profitably for a number of years and acquired the trade and assets of further Vauxhall dealerships at Staples Corner, North London in 2010 and Hayes in 2012.
In 2016, the Company sought to diversify its geographic reach by acquiring Vauxhall dealerships in Swindon and Marlborough, Wiltshire. The business had continued to trade profitably during this period and at 31 December 2016 had accumulated profit and loss reserves of £2,281k.
Administrators' statement of proposals (2018-07-07) · Companies House register