Car Dealer Magazine was tipped off about the news on Tuesday evening and calls to the dealership group’s head office went unanswered.
One dealership we tried to contact had a call handling company answering its phones and its operator told us the dealerships were ‘closed today due to financial issues’.
The group operates 22 sites across the south of England and represents Kia, Renault, Mazda, Peugeot and Seat.
One source told us: ‘From what I’ve heard it’s slightly more complicated than just administration – there may be a buy-out in place.’
Three other trusted sources confirmed to us the rumours were true, however we are yet to hear from the firm, or its administrators.
Waters Auto Planet was awarded the Car Dealer Magazine Group Franchised Eward last year for its excellent website.
On the site, the group claims to be ‘one of the fastest growing’ and specialised in used cars, running three car supermarkets in London, Maidstone and Southampton.
‘Waters AutoPlanet is a large car dealer group which carries enormous buying power,’ claimed the website’s About Us page. ‘We are able to offer car buyers the advantages of this.’
Car Dealer has tried to contact the company via Twitter, phone and email – none of which has so far been answered. We will be continuing to try to contact a spokesperson from Waters Auto Planet and will update you when we’ve heard more.