H & L GROUP IN LIQUIDATION

[POORCARDEALER]

Dealer group that covers York and Humberside area....sad news for the employees.



http://www.thisisgrimsby.co.uk/61-jobs-garage-goes...

Edited by POORCARDEALER on Wednesday 7th December 14:22

[MarsellusWallace]

Doesnt reflect very well on MBUK.They should have seen when the business was on the brink and quietly sold it to another group.

Franchised dealerships of a prestige marque closing down and standing empty does nothing for their reputation,or inspire customers who place orders for cars at their other dealerships either.

[ClassicMercs]

I'm sure the truth will come out in due course. I looked at their latest filed accounts earlier and they were not too bad - less than a year ago.
I have seen two other things mentioned elsewhere - the first is MBUK pulled the plug due to the group not responding in the 'desired' manner - the other being that new companies were formed a couple of weeks ago ready for action.
I don't know if either has truth - but personally I would not be surprised as both a typical actions of things I have seen elsewhere in other industries.

[POORCARDEALER]

That makes sense as usually there would be manufacturer support in a crisis.

[Steffan]

Sounds like Phoenixing to me.

Doubtless the Directors have appointed helpful and trustworthy professionals who will ensure absolute fairness in the way the creditors lose out and the new company remains unscathed.

I do not like this at all, but it is the way of Insolvency in the UK.

A lot more coming from the look of the business results.