Hitchin Cars Limited (08396584): administration
- Status
- Administration ended
- Administration began
- 2015-01-12
- Administrators
- Alex Dunton, Richard Cacho
- Administrators' firm
- RCM Advisory
- Incorporated
- 2013-02-11
- Location
- Norwich
- Industry
- 45112 Sale of used cars and light motor vehicles
Why it went into administration
- HMRC / tax arrears
- Creditor pressure / legal action
- Bad debts / customer insolvency
From the administrators' statement
The Company was incorporated on 11 February 2013 The Company's principal trading activity was the sale of used cars and light motor vehicles from Units 7-10 Station Approach, Hitchin, Hertfordshire, SG4 9UW (“the Premises”)
Vehicles were sourced from spectalist auctions, main dealers and on some occasions were purchased directly from the public
The Company operated a car stocking plan The Company would purchase vehicles which would be funded by a car plan operator, effectively a financier The financier would then hold title to the vehicle until tt was sold at which paint the Company would repay the finance and retain the profit and the title would pass to the purchaser It is of our understanding that the Company never held title to the vehicles
Administrators' statement of proposals (2015-03-11) · Companies House register