Sat, 02 Feb 2013 | BUSINESS SALE
The southern England-based car dealership, Whitequay Group, has been put up for sale by the administrators after the firm ran out of cash to keep operating.
Whitequay Group was established in 2003 by MD Ian John and had grown to three sites in Reading, Newbury and Southampton. The dealership holds the franchises for Alfa Romeo, Chrysler/Jeep, Kia, Skoda, Seat and Suzuki as well as repairer franchises for Corvette, Cadillac, Hummer and Saab.
According to accounts filed at Companies House, for the year ended December 2011, Whitequay Group had revenues of £20.6 million with a recorded loss of £141k.
Smith & Williamson, the appointed administrators, are believed to be making staff redundant at the Reading and Southampton branches with no decision yet made about the Newbury branch. Notwithstanding, the insolvency practitioners are trying to market the businesses.
A spokesperson from Smith & Williamson commented, "We are working hard to sell all three sites at Southampton, Reading and Newbury – there is strong interest therein."
"We are doing our best in a very difficult situation but there is insufficient money to be able to keep the sites open and therefore all three sites have, very regrettably, effectively been forced to close."
A very successful popular farm shop; an expanding and profitable business. Prominent main road location with passing road traffic. Located adjacent to a busy Petrol Station and close to the Garden Centre. Dorchester approx. 7 miles. Wareham approx. 1...
LEASEHOLD
Prominently located on Bournemouth’s West Cliff. Generous site approaching ½ acre with dual access. Well-equipped rooms with direct dial telephones, colour televisions, tea making facilities, trouser presses, ironing facilities and hairdryers. Key fo...
LEASEHOLD
Highly regarded 2 AA rosette restaurant and function/ wedding venue. AA 5 star guest accommodation rating. Purpose built bedroom block (1999). High quality fittings and equipment. UPVC double glazing with window blinds. Gas fired central heating. Bat...
FREEHOLD
08
|
May
|
JMG Group expands commercial insurance services with acquisition | BUSINESS SALE
JMG Group has expanded its commercial insurance services and...
08
|
May
|
Assets to be sold as steel processing firm ceases trading | ADMINISTRATION
A steel processing business based in the Liverpool City Regi...
07
|
May
|
In vitro diagnostics regulatory consultancy acquired by listed firm | BUSINESS SALE
Abingdon Health, a listed diagnostic test manufacturer based...
08
|
May
|
Assets to be sold as steel processing firm ceases trading | ADMINISTRATION
A steel processing business based in the Liverpool City Regi...
08
|
May
|
JMG Group expands commercial insurance services with acquisition | BUSINESS SALE
JMG Group has expanded its commercial insurance services and...
07
|
May
|
Plant and vehicle hire group acquired out of administration | BUSINESS SALE
A Leicestershire-based supplier of specialist plant and vehi...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.