8:37 am, April 8, 2026
Failed supercar dealer GVE London has begun selling off assets as administrators look to recover funds for creditors.
That is according to new documents, recently published via Companies House, which show that returns to date remain modest.
Car Dealer reported back in October that Arvindar Jit Singh and David Hinrichsen of FRP Advisory had been appointed as administrators of the stricken firm, after their predecessor walked out after just 22 days.
At the time, it was reported that the business had 14 company creditors, owed a combined £449,111.89, as well as nine consumer creditors, to whom GVE owed £700,869.30.
Amid such sky-high debts, work to recoup money via asset sales, including proceeds from showroom equipment and trailers has been ongoing ever since.
The documents reveal that the sale has raised just £40,100 – well short of what would be needed to clear the outfit’s debts.
Issues also remain around the firm’s controversial sale or return model, with a number of ownership disputes over customer cars remaining live, months after GVE’s collapse.
In the latest progress report, covering the period from September 2025 to February 2026, administrators say: ‘A number of vehicles have been returned to their respective owners where ownership could be established.’
However, the report goes on to confirm that a number of cases remain unresolved, adding: ‘There remain a number of vehicles in storage where ownership is currently under review.’
With work ongoing to establish who owns the cars in question, administrators say they have ‘asserted a lien over these vehicles’ while investigations continue.
Administrators now say they will continue to ‘progress the administration in line with the stated objectives’.
Overall, previous administrator Farheen Qureshi is owed £137,840 plus VAT for her short time in the role, while the current duo’s bills come to £52,945 plus VAT.
What went wrong at GVE?
The business, based in Uxbridge, specialised in the sale of super and hypercars – selling a large number of them on a sale or return basis.
Once sold, customers would expect to be paid for their cars at the agreed price at the point of consignment and the supercar dealer would pocket the difference. This would cover their work and any warranty claims.
However, the model appears to have failed spectacularly, leaving the firm teetering on the brink of collapse.
Once news of the potential administration broke, customers with cars enlisted for sale with the business began turning up at the premises in an attempt to get them back.
One video of the dealership site, seen by Car Dealer, showed large crowds of customers huddled outside the various entrances to the dealership on the Trade City Business Park, Uxbridge.
Prior to the crisis, Car Dealer visited GVE London as part of our Selling Supercars series. You can watch the full video at the top of this story.
