2:15 pm, August 11, 2026
GVE London’s administration has been extended by 12 months as work continues to resolve failed supercar dealer’s affairs.
The firm collapsed into administration last October and work has been ongoing ever since to sell off assets in order to recoup funds for shareholders.
The process had been due to come to an end on August 31 but administrators have now been granted more time to complete their work.
The administration will now continue until the end of August 2027, after the extension was rubber stamped by the firm’s creditors.
The news was announced via a filing to Companies House, which was officially listed yesterday afternoon (Aug 10).
Car Dealer reported last 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.
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.