8:38 am, November 6, 2026
A used car dealer has collapsed into liquidation after racking up debts of more than £350,000.
Nathan Hunt Cars Ltd had been trading as Apex Cars Direct in Swindon since 2016 but has now closed its doors after buckling under mounting bills.
Documents recently published via Companies House show that the business owed creditors a total of £350,300.79 when its financial position was assessed on October 16.
The largest single debt was £122,000 owed to HMRC in unpaid PAYE and National Insurance.
The company also owed £73,139 to Funding Circle, while director Nathan Hunt was listed as being owed £57,613 through his director’s loan account.
A further £35,000 was owed to P&D Automotive Solutions Ltd.
The firm also owes cash to some of the motor trade’s biggest names, including Autotrader, which is owed £9,292, Carwow (£4,776), Motorway (£4,574) and CarGurus (£1,000).
The statement of affairs reveals that the company had assets with a book value of £1,256,879, including vehicle stock valued at £909,633.
Other assets included an intercompany debtor balance of £170,197, trade debtors of £57,826 and other debtors worth £56,498.
Plant and machinery was valued at £34,392, while leasehold improvements were worth £17,008.
However, liquidators do not expect the assets to generate any meaningful returns, with several listed as having uncertain realisable values and the vehicle stock valued at nil for recovery purposes.
The company also had a secured debt of £7,283 owed to LE Capital (UK) Asset 1 Limited.
Further creditors included Barclays Bank, which was owed £9,800, and Kennet Equipment Leasing, which was owed £7,490.40.
The statement estimates that unsecured non-preferential creditors are owed £211,217, with a further £122,000 due to secondary preferential creditors, principally HMRC.
Overall, the documents suggest creditors face a shortfall of £340,500.
The company’s share capital stood at £40,102, with Hunt holding 40,101 ordinary shares and David Beesley holding the remaining share.
The process of overseeing the liquidation will be handled by Jane Hardy and Rosalind Mary Hilton of Adcroft Hilton Limited.
Hunt signed the statement of affairs on October 19.