UK car dealer plunges into liquidation – open | Tech News
A UK used car dealership has plunged into liquidation, in one other devastating blow to the motoring industry. Drive City Cars, a secondhand dealership primarily based in Manchester, appointed liquidators on June 11.
The information was printed within the London Gazette simply days later, with a discover showing online on June 17. There is no info on how employees can be affected at this early stage. A Resolution for Winding-up order was additionally issued on the identical day, which made clear that the company was being wound up “voluntarily”.
According to Companies House, the business is present process a collectors’ voluntary liquidation, which commenced on June 11. This occurs when the insolvency course of is initiated by the company via its director.
The London Gazette discover acknowledged that Tauseef Rashid of Qimzen Advisory has been appointed liquidator of the business.
Drive City Cars, primarily based on John Street, Hyde, Greater Manchester, was described as an “independent car dealer” specialising in “quality, pristine” autos.
The business bought the whole lot from household hatchbacks such because the Ford Fiesta and Vauxhall Ampera to more sporty fashions such because the BMW 1 Series.
It additionally marketed convertibles such because the BMW 6 Series to SUV crossovers just like the Dacia Duster. The firm additionally dabbled with bikes, beforehand promoting a BMW M1000RR Carbon.
According to Companies House, the company was first integrated back in June 2019, that means the dealership would have simply celebrated its seventh anniversary. Drive City Cars just isn’t the primary motoring model to fall into issue this summer season, with a collection of firms struggling.
The Car Sales Factory Limited, a used-car dealership primarily based in Lancashire, appointed liquidators in early June. Meanwhile, Dub Custom Cars Limited, vehicle customisation and restore specialists primarily based in Essex, appointed liquidators on June 30.
The company had established itself as one of the main “vehicle customisers” within the nation, with a explicit concentrate on vinyl wrap utility. KleanDrive Ltd, an electric car conversion company primarily based in Essex, additionally plunged into administration back in May.
Stay forward of the curve with the newest developments within the automotive world! Our web site is your final vacation spot for car information, delivering complete updates, in-depth market evaluation, and professional insights into the fast-evolving automotive industry. We convey you every day protection on the whole lot from breakthrough vehicle applied sciences and industry trends to main bulletins which can be driving the longer term of transportation.
Discover how these trends are reworking the highway forward! Visit us recurrently for partaking and informative content material by clicking right here. Our meticulously curated articles cowl market trends, investment methods, and key milestones in at present’s quickly evolving car panorama.
