Completely Motoring Goes Into Administration

Family owned Staverton and Gloucester-based company  Completely Motoring Ltd. (CM) that specialises in Vehicles and Motorbike sales has gone into administration and is seeking a buyer.

The firm was created in 2009 and has grown to become a major used and new vehicle reseller in Wales and the South West, employing 165 people across 14 showrooms and 11 locations.

To March 31, 2023, the firm reported turnover of £78.4 million, up from £50.3 million, although pre-tax earnings fell from slightly over £1 million to £677,000.

After a difficult summer and financial issues, the group has gone into administration.

Azets restructuring partner and licensed insolvency practitioner Jonathan Amor, Matthew Richards, and Alessandro Sidoli of Xeinadin Corporate Recovery Limited were appointed joint administrators of Completely Motoring Ltd, John Wilkins (Motor Engineers) Ltd, and Thunder Road Motorcycles Ltd.

After their appointment, the joint administrators have invited interested parties to approach them as quickly as possible to ensure the group’s continuation.

Jonathan Amor said: “After weak summer sales, the group is struggling financially. Thus, the group is under administration to preserve it.”

We are discussing sales with interested parties. We have received many expressions of interest and ask any further parties to contact us as soon as possible to secure the group’s future and save as much of the business and employment as feasible.”

The group’s 2023 accounts showed £4.37 million in fixed assets, £23.8 million in current assets, and £2 million in net assets.