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.
17th April 2019
HMRC applied to see more than 4,000 UK companies closed down over the course of 2018 and is being too aggressive in its pursuit of tax-related debts.Read More
12th April 2019
British high streets saw the sharpest rate of net store closures on record over the course of last year, according to a new set of figures.Read More