12:43 pm, November 7, 2022
BMW specialist outfit Munich Legends has acted swiftly to refute incorrect reports that it has gone into administration.
An announcement on the website of The Gazette – the official public record – that a virtual meeting of creditors is being held on Wednesday (Nov 9) to nominate joint liquidators of The Ashdown Garage Car Sales Ltd trading as Munich Legends led to incorrect reports that Munich Legends itself had gone under.
However, the Chelwood Gate company is still trading – and owner Dan Norris told Car Dealer that in fact it was in the best financial position it had been for years, and that suppliers and customers won’t be affected by the liquidation.
He explained that the appointment of the liquidators was essentially a formality regarding a company that hadn’t been used for years.
Setting the record straight in a statement, Norris said today: ‘Munich Legends is not going out of business. The company in question is a subsidiary that we used to use (The Ashdown Garage Car Sales Ltd) but haven’t traded for nearly three years.
‘We have decided to close TAGCS Ltd, as we will not be using it again to trade. None of our customers or suppliers are affected in any way.
‘Munich Legends as a business has in fact had three consecutive “best years” in a row, and continues to go from strength to strength.
‘We’d like to thank all those that got in touch to express concern – it is great to see we have such good friends, and great support out there. Rest assured friends, Munich Legends isn’t going anywhere!’
Speaking to Car Dealer, Norris said: ‘It’s a subsidiary that we used to use to sell cars, but everything we did was always on sale or return.
‘We stopped using it about three years ago, and we just decided to close it because it’s costing us money to keep it as a company not doing anything.
‘None of our suppliers or customers are affected in any way. It’s a complete non-event. It doesn’t have any suppliers or customers.’
He added: ‘I wasn’t expecting anybody to even notice or care, to be honest with you.’
However, his phone ‘lit up like a Christmas tree this morning’ following the false reports.
‘It was quite touching. I had a lot of customers ringing me saying “Please tell me it’s not true”, so I was really pleased.’
Munich Legends is essentially an engineering firm with a ’boutique’ showroom that didn’t have to sell a certain number of vehicles every month, said Norris.
He told Car Dealer that the pandemic had actually proved to be a turning point in a good way for Munich Legends.
‘We’d had a couple of years when we hadn’t really made any money before that but Covid gave us a chance to reorganise things.
‘We had a couple of months where we were able to take a breath and organise things the way we wanted to do them.
‘We’re in a better state now than I think we’ve been for probably a decade and things are going well.’
Picture copyright © Blackball Media 2022
