We were appointed Administrators of Southgate Motor Group, a £40 million turnover motor retailers and had Peugeot, Mitsubishi and Subaru across seven sites on the South coast. The Group faced cash flow difficulties and poor trading, mainly due to the economic climate.
Our team of specialists managed to negotiate the reopening of two of the seven sites that were initially closed. Motorwell Ltd agreed a new lease with the landlord and bought the company assets on one of the sites and also employed former Southgate staff. And Snows Motor Group agreed terms with the landlord on the other site, thereby preserving one of the oldest Peugeot dealerships in the UK, creating 25 jobs in the process.
4th December 2018
The number of independent retailers who closed down outlets during the first half of this year reached a record high level for any comparable period.Read More