Mon, 10 Dec 2012 | ADMINISTRATION
One of the best-known motor retailers in Yorkshire, Nidd Vale Motors, has entered administration.
Based in Harrogate, the independent business was set to be sold and work had already begun to find a purchaser.
However, Richard Jackson, non-executive chairman of the group, claimed that creditors, Santander Consumer Finance, had “parachuted in” administrators from Leonard Curtis.
A statement from the directors of Nidd Vale explained that there was a great deal of disappointment at the fact that they had been prevented from going ahead with the sale.
It read: “Although they had given notice to the bank of their intentions, under which an administrator could have completed a properly planned sale of the business, the directors report that the bank didn’t even discuss its intentions with them on the telephone.”
A spokeswoman for Santander, meanwhile, told the Yorkshire Post that the creditor had “been working closely” with the firm to try and resolve its financial issues.
“However, following a failure to reach a financial resolution, administrators have been appointed to look at the best options for the future of the company and its staff,” she added.
Mr Jackson added that the company had cash in the bank and would have been able to help creditors, the business and staff out if a planned sale had been able to go ahead.
It is unclear whether or not administrators from Leonard Curtis, brought in by Santander, will now look to sell the company out of administration.
Operating across North Yorkshire, the company has two divisions, one that provides IT infrastructure and one offering renewable energy solutions, including solar PV systems and electric vehicle charging points.
The group specialises in supplying and installing UPVC windows, doors and conservatories in a wide array of styles. Bespoke bathroom panelling and high-quality guttering products are also provided by the two companies.
The company is a well-regarded specialist provider of hygienic wall, floor, and ceiling cladding systems. To complement its core supply of PVC cladding, the business offers hot welded joints to prevent the build-up of bacteria and can supply stainles...
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