7:10 am, March 30, 2024
A used car dealership has appointed liquidators after accruing debts of more than £400,000.
Bournemouth and Poole Car Sales closed its doors earlier this month and has now began winding up proceedings with Companies House.
Liquidators Kelly Mitchell and Andrew Watling, of Quantuma Advisory, are now handling the closure of the business, which was originally founded in 2009.
According to documents published as part of the proceedings, the company owed a total of 15 creditors a combined of £430,700.
Debts in the statement of affairs include £10,799 to Dorset Magistrates’ Courts’ enforcement office, £175k to HMRC and £808 to the local BCP Council.
There is also £40,787 owed to HSBC and £88,130 to an R Crawford, of Richmond Park Avenue in Charminster, who supplied the dealership with a loan.
Liquidators say that the assets available for preferential creditors total £136,401.42, against an estimated total deficiency of £294,399.
Elsewhere, debts to unsecured, non-preferential creditors are estimated at a whopping £306,350, meaning some may never receive the money owed to them.
The Bournemouth Echo reports that branding and signage at the dealership have already been removed and the site has now been taken over by G.W. Hall & Son, which has more than 45 years’ experience in the motor trade.
Speaking to the local paper, the firm’s boss was keen to distance himself from the now defunct Bournemouth and Poole Car Sales.
Ged Hall said: We have no affiliation with Bournemouth and Poole Car Sales and our business is affluent and good.
‘That business financed cars – we don’t do that, it’s all bought.
‘Our new signage should be put up in the next 10 days or so, unfortunately there has been a little delay.’
