Mon, 23 Jan 2012 | ADMINISTRATION
Administrators are seeking to realise the assets of national motorcycle dealership chain George White Motors after it fell into administration at the end of last week.
The company, which has been in business for more than 50 years, appointed Richard Hawes and Robin Allen from financial services firm, Deloitte, as administrators last week.
The pair said that the company does not have the funds available for them to be able to keep it trading and allow them to look for a sale for it as a going concern. Some 61 employees were made redundant upon their appointment, with nine retained to aid with the administration process.
“Poor trading results over the last two years coupled with the increasingly difficult market conditions and low margins have resulted in cash flow constraints,” the administrators said.
“In the absence of a significant cash injection into the company the directors were unable to continue trading the business and requested the appointment of administrators.”
George White Motors operates from headquarters in Swindon, and has five other retail locations across the UK, including in Plymouth, Torbay, Donington, Slough and Bolton. Its annual turnover had been £25 million at its peak.
The company’s offering includes installation and maintenance of satellite services, digital signage, TV distribution systems, Audio & Video solutions, Indoor and Outdoor LED, Wi-Fi installations, PC staging, and content creation. Other skills cover C...
An opportunity to acquire a reputable IT services company based along the M4 corridor with over 20 years of trading experience. The company has built and maintained a thriving, long-standing client base of businesses across a variety of sectors.
Founded over 40 years ago, this well-established manufacturing and supply company operates across the marine and leisure sectors, with a strong focus on serving the OEM market. The business specialises in high-performance water heating solutions tail...
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.