Holt Cars Limited (08032733): administration
- Status
- Administration ended
- Administration began
- 2022-01-24
- Administrators' firm
- Begbies Traynor
- Formerly
- Holt Car Sales Limited
- Incorporated
- 2012-04-17
- Location
- Northampton
- Industry
- 45111 Sale of new cars and light motor vehicles
Why it went into administration
- COVID-19
- Cash flow / liquidity pressure
- Creditor pressure / legal action
From the administrators' statement
The Company was incorporated on 17 April 2012 and Brian Holt was appointed as the sole director. The Company commenced trading thereafter as a Mitsubishi Motors UK (“Mitsubishi”) main dealership following the acquisition of the dealership from Chris Variava Limited in October 2012, predominantly dealing with the sale of new Mitsubishi vehicles, used vehicles, parts supply and servicing and repairs. The Company operated from leased premises at 998 London Road, Alvaston, Derby, DE24 8QA (the “Property").
The Company commenced with successful years of trading and built up its capital organically in order to purchase the Property in December 2019 for £500,000. The Company financed the purchase of the Property by way of a mortgage from Atom Bank Pic (“Atom Bank’).
In order to assist with cashflow, following the purchase of the Property, the Company obtained a loan in the sum of £50,000 from ESME Loans Limited.
Administrators' statement of proposals (2022-03-08) · Companies House register