11:03 am, October 16, 2026
Big Motoring World made a pre-tax loss of more than £12m last year, as the firm racked up huge legal bills fighting ousted founder Peter Waddell.
Accounts seen by Car Dealer show that Bapchild Motoring World (Kent) Limited – which trades as Big Motoring World – made a pre-tax loss of £12.48m in the 12 months to the end of last December.
The result sees the used car supermarket group slip deeper into the red, having lost £11.84m before tax in 2024.
Bosses put the slump down ‘exceptional administrative expenses’, including £4.07m in legal costs linked to its long-running battle with Waddell.
That figure was up from £3.78m in 2024, despite the fact the full High Court trial did not take place until 2026.
Following weeks of evidence Mr Justice Marcus Smith concluded that Big Motoring World was legally entitled to dismiss Waddell without notice because some of his conduct amounted to gross misconduct.
However, the near-500-page ruling also found that the process used to remove Waddell’s directorships and restrict his shareholder rights was invalid and unfairly prejudicial.
A hearing to decide on full costs is scheduled to take place in the High Court next month.
Following a tax credit of £1.9m, company’s overall the loss for the financial year did improve slightly to £10.5m.
The accounts have been seen in full by Car Dealer, despite Companies House currently showing them as being overdue.
The documents were due to be filed by September 30 and are now more than two weeks late.
When approached by Car Dealer, Big Motoring World denied that they failed to submit the accounts on time and insisted that they were sent to Companies House as planned on September 30.
Turnover tops £1bn as sales rise
Despite the deepening losses, Big Motoring World’s revenue did increase from £859.1m to £1.1bn, as retail vehicle sales rose by 20.1% to 61,599 cars.
This was largely down to a the impact of three former CarShop sites, acquired in 2024, which added income from Norwich, Sheffield and Camberley.
Overall, staff numbers grew from an average of 1,293 employees to 1,511 with employee costs rising almost 50% to £57.22m
At the same time, directors’ remuneration rose from £817,193 to £847,114, with the highest paid executive getting £700,000.
Bosses now say the firm is ‘putting the foundations in place’ but accepted that the year had ‘required a level of resilience’.
Reflecting on the firm’s performance in 2025, CEO Laurence Vaughan said: ‘The used vehicle market remained volatile in 2025, requiring a level of resilience that Big Motoring World was ideally equipped to deliver.
‘Our strong and diverse supply channels will be developed further in 2026 to unlock more volume and strengthen our EV proposition.
‘We are putting outstanding customer service and the development of the best and most engaged team in our sector at the centre of our strategy.
‘2025 was a year of putting the foundations in place to continue our growth as the leading used car supermarket in the UK.’
Big Motoring World failed bank covenant test
The accounts also reveal that Big Motoring World failed a financial test set by its bank at the end of 2025, meaning it fell short of a condition attached to its borrowing.
Such tests, known as bank covenants, are designed to give lenders reassurance that a business remains within agreed financial limits.
Failing one can put a company at risk of its lender demanding repayment or renegotiating its loan, although in Big Motoring World’s case, the bank facility has continued to operate on its original terms.
The company has continued making its scheduled monthly repayments, with the remaining balance still due to be repaid in November 2026, as originally planned.
Directors say they are now actively reviewing the company’s funding requirements and available financing options, while continuing to monitor its cash position to ensure sufficient liquidity.
No dividends were paid to directors at the end of the year.