Bridge Motors (Banbury) Ltd (07328370): administration
- Status
- Administration ended
- Administration began
- 2015-12-02
- Administrators
- Dj Blenkarn, Gregory Andrew Palfrey
- Administrators' firm
- Evelyn Partners
- Formerly
- Motors Investments (Duncan) Limited
- Incorporated
- 2010-07-28
- Location
- Southampton
- Industry
- 45111 Sale of new cars and light motor vehicles
Why it went into administration
- Funding withdrawn / unable to refinance
From the administrators' statement
The Company was incorporated 1n July 2010 and acquired the existing trade and assets, excluding freehold property, of Dyson in February 2011 Dyson was an established Vauxhall motor dealer operating from sites in Banbury, Evesham and Stratford-upon-Avon The Company continued to trade from these sites and entered into 20 year leases with Dyson in respect of the sites The majority shareholder at the date of acquisition was GMUK, with an 80% shareholding In August 2014 GMUK acquired the minonty shareholding and the Company became a wholly-owned subsidiary
Since the Company acquired the business we understand trading conditions have been difficult (see betow) and there have been a number of changes of management 1n an attempt to improve management and results The Company’s trading has also been affected by the loss of 1ts SAAB and Chevrolet franchises as a result of the insolvency of SAAB and the withdrawal of Chevrolet from the UK market.
Trading results are summarised below
Administrators' statement of proposals (2015-12-16) · Companies House register