The firm and associated companies operates 13 new and used car sites across Thames Valley, selling all the big models including Ford, Peugeot, Citroen, Honda and Kia.
Steve Absolom and Will Wright from KPMG Restructuring were appointed joint administrators and are planning to retain 19 staff to assist with the administration process and wind down of business operations.
Due to tough competition and a long period of falling revenue, the firm felt there was no other option but to appoint administrators.
Dealerships involved include: Ford Basingstoke, Ford Reading, Ford Newbury, Peugeot Newbury, Peugeot Reading, Peugeot Basingstoke, City Kia Newbury, City Suzuki Basingstoke, City Seat Basingstoke City, Skoda Basingstoke, City Honda Basingstoke, Citroen Basingstoke and PX Centre Basingstoke.
Wright commented, “Over the coming days, our principal focus is on supporting employees with their redundancy claims and working with the vehicle manufacturers to effect an orderly closure of the business.”
Customers who are affected and need urgent help should contact firstname.lastname@example.org.
If you are an employee of the business, please listen to the video below as it will tell you your rights as an employee of an insolvent business. There is a link at the end of the video to the Government website which expands further on what you need to know. If you have any questions, please contact KPMG for further assistance.