12:25 am, March 19, 2011
ONLINE car retailer Autoquake has been placed in administration, it has been revealed today.
The website – which sells used cars online – has a notice on its website stating that it has been placed in administration and that Matthew Bond and Jason Godefroy of MCR are the joint administrators of the company.
The statement says: ‘If you are a customer or supplier of the company and have any queries, please direct these to the company’s call centre on 0844 800 9406, in the first instance.
‘If you are interested in purchasing any of the assets of the company including the Company’s domain name and e-commerce platform, please contact MCR directly on 020 7487 7240.’
The website has won countless awards, including one from Car Dealer Magazine in last year’s Ewards, for its excellent site.
In a statement, the company said: ‘Autoquake was established five years ago with the goal of providing a better used car buying experience for the public.’
Administrator Matt Bond added: ‘Autoquake was in investment mode as a business and required scale to become profitable; despite significant strides in the development of the business model it was unable to secure the funding required to build it to critical mass.
‘Therefore the company has gone into administration and the joint administrators are seeking purchasers for the business. We will make further information available in due course.’
Experts have said the company has always struggled to turn a profit, but the loss of such a high profile business will still raise eyebrows.
