Completely Motoring Limited, John Wilkins (Motor Engineers) Ltd, and Thunder Road Motorcycles Ltd (“the group”) have all entered administration.
Jonathan Amor, a Restructuring Partner and licenced Insolvency Practitioner with UK top ten accounting and advisory firm Azets, has been appointed Joint Administrator of the leading new and used vehicle Group, along with Matthew Richards (Azets), and Alessandro Sidoli (Xeinadin Corporate Recovery Limited).
The Joint Administrators are urging interested parties to make contact as soon as possible to maximise the chances of securing the future of the £70 million turnover group. In total, the group employs 165 people across 14 showrooms and 11 locations spanning Wales and the South West of England.
Joint Administrator Jonathan Amor, said:
“Unfortunately, the Group has encountered financial difficulties after a poor summer sales period. As a result, the group has been placed into administration to protect it. We are exploring sale options with interested parties. We have received several expressions of interest and we urge any other parties to make contact as soon as possible, with a view to securing a future for the group and saving as much of the business, and as many jobs, as possible.”
