Arnold gets another one
Discussion
Update on the administration of Phoenix Car Company-
"During early January 2019, the directors identified the Group was suffering from a
shortage of cash. The directors were unable to secure additional support from the Bank,
vehicle finance partners or an alternative source.
On 31 January 2019, the directors completed a going concern sale of the Group’s
business and certain assets to Arnold Clark Automobiles Limited (“Arnold Clark”). Shortly
after completion of the sale, the directors resolved that eight Group companies should be
placed into administration.
Under the terms of the sale agreement, we understand Arnold Clark has not assumed
legal responsibility to honour the terms of service plans. However, in certain
circumstances, we understand Arnold Clark may be willing to consider requests from
customers for work under pre-existing service plans on a case-by-case basis. Any
amounts owed to customers in relation to service plans which cannot be honoured would
form unsecured claims in the administration."
"During early January 2019, the directors identified the Group was suffering from a
shortage of cash. The directors were unable to secure additional support from the Bank,
vehicle finance partners or an alternative source.
On 31 January 2019, the directors completed a going concern sale of the Group’s
business and certain assets to Arnold Clark Automobiles Limited (“Arnold Clark”). Shortly
after completion of the sale, the directors resolved that eight Group companies should be
placed into administration.
Under the terms of the sale agreement, we understand Arnold Clark has not assumed
legal responsibility to honour the terms of service plans. However, in certain
circumstances, we understand Arnold Clark may be willing to consider requests from
customers for work under pre-existing service plans on a case-by-case basis. Any
amounts owed to customers in relation to service plans which cannot be honoured would
form unsecured claims in the administration."
cas20 said:
Driver101 said:
That doesn't sound like a good move.
Probably part of Vauxhall reviewing their network sadlySpeaking of which - looks like work is starting on the cleared site of the Robins & Day Peugeot garage that was in Minerva Street, unsurprisingly, it's turning into flats as far as I know, so another site gone for good. Surprised it's taken as long given the garage was demolished & the hoardings went up months ago. Hoardings are all now down & all the undergrowth seems to be getting cleared.
S2red said:
Nothing in Glasgow planning portal for that site apart from changing Citroen frontage and 7 flats on Minerva st
I might have put 2+2 together & got 5, but I'd assumed it was turning into this - https://www.rightmove.co.uk/property-for-sale/prop...BMR said:
Wondered what was happening at Border Cars in Ayr but apparently Parks have bought over the site and the Mazda / Mitsubishi franchise
Border Cars (north England and south Scotland, although not the borders!) have announced "serious financial difficulty" and "uncertain trading" although not in administration (yet). 200 staff been told.One of the bigger players will take on the franchises surely?
Tannedbaldhead said:
A lot of redevelopment work going on at the old Pheonix Mitsubishi, Kia, Suzuki and Honda showrooms on Kerse Rd Stirling.
Signage telling us to expect new AC site soon.
Anyone know what's coming?
A new volvo showroom Signage telling us to expect new AC site soon.
Anyone know what's coming?
https://pabs.stirling.gov.uk/online-applications/f...
Park's is now Kia only at the old Verve site in Coatbridge.... Kia cars are in the old Citreon showroom.
David Hayton (Mazda) and Lloyd (Kia) have picked up some franchises in Carlisle previously held by Border. Not sure about Dumfries.
Phoenix Car Company administration has been extended. Issue over loans the company had made to directors before administration according to the documentation.
David Hayton (Mazda) and Lloyd (Kia) have picked up some franchises in Carlisle previously held by Border. Not sure about Dumfries.
Phoenix Car Company administration has been extended. Issue over loans the company had made to directors before administration according to the documentation.
cas20 said:
Tannedbaldhead said:
A lot of redevelopment work going on at the old Pheonix Mitsubishi, Kia, Suzuki and Honda showrooms on Kerse Rd Stirling.
Signage telling us to expect new AC site soon.
Anyone know what's coming?
A new volvo showroom Signage telling us to expect new AC site soon.
Anyone know what's coming?
https://pabs.stirling.gov.uk/online-applications/f...
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