Premier Auction's Leeds in Receivership..!!

[Bemmer]

It is not just Car Dealers in Trouble..?? But Auctions..?? Heard today Premier have Gone..!!

[steven f]

that happened friday mng actually

[Bemmer]

I Wonder what will Happen to the next DVLA Registration Sale..??

[CRA1G]

Can't believe they were in Trouble.! They had a good team of Staff,many been there Year's.The Next DVLA Sale is due on the 28/29/30th JAN 2009..?? Premier have been doing them for a few years.!

[POORCARDEALER]

I was amazed but got the tale today...........

Things were going well, they bought an old container site in Birmingham intending to open another auction, the planning authorities wouldnt grant planning permission, the site cost £12M....as they couldnt get planning they used in as a sort of ditribution centre, and tried to source cars from the south and south west and then tranported them to Leeds for sale in the auction....apparantly with the downturn in volume of cars being auctioned they have been unable to service the debt, hence the current situation.

Great shame as I always found them a very good place to deal with.

Wonder who is next??

[Bemmer]

Rumour is there in Talk's with one of the big Group's BCA..?? MANHIEM..?? It sounds Like the Leeds site was doing OK..!! Just hope it will not be a Repeat of 606 all those Years back....!!!!

[Mr Whippy]

POORCARDEALER said:

as they couldnt get planning

Sounds like that is the problem more than anything. Either they didn't do their homework well (surprising if they didn't with £12,000,000 on the line), or the council seem to have taken a move to put them under... lovely councils and their draconian planning policy.
One thing I hope changes after this recession is that planning policy changes somewhat to stimulate growth rather than squash it!

Dave

[burriana]

I find it very hard to believe that they would commit £12M without a planning clause being all signed and sealed. In fact I don't, it's just too much of a schoolboy error and those guys are not that niaive.

[steven f]

burriana said:

I find it very hard to believe that they would commit £12M without a planning clause being all signed and sealed. In fact I don't, it's just too much of a schoolboy error and those guys are not that niaive.

heard it was £9m

[POORCARDEALER]

steven f said:

burriana said:

I find it very hard to believe that they would commit £12M without a planning clause being all signed and sealed. In fact I don't, it's just too much of a schoolboy error and those guys are not that niaive.

heard it was £9m

I am told £9M is the price they have been trying to sell it for.

[Hobo]

Any such deal would have been strictly 'subject to planning' as is the normal (as Al says). Whilst they may have put down as non refundable deposit on the land, although again highly unlikely, the only costs associated with the site would be architectural fees, surveys & planning, which whilst can add up, certainly ain't going to be any figure that would cause bankrupcy.

I suspect, as ever, there is more to this than being told.

[Mr Whippy]

Hobo said:

I suspect, as ever, there is more to this than being told

Just a bit. Either way, it is a shame as they were a pretty good auction site.

I'm surprised they are staying put down there anyway, with that new upgraded road/motorway exit, and development going up, that land will be pretty high value shirley?

[Bemmer]

They have been some very angry dealers at the gate's this morning.! At one point the Police were called.!It sounds like it's going to get messy.!

[CRA1G]

Not seen anything in the Press...???

[fridaypassion]

O/T but Cra1g do you by any chance have an aston with a plate very similar to your name?

[alex290568]

Click on Cra1g's profile and the games up!

[fridaypassion]

lol I'd make a rubbish stalker!

Thats the car in question. I see it about all the time. Wont mention the area for obvious reasons but its deff the same car

Edited by fridaypassion on Monday 15th December 21:44

[The_Doc]

fridaypassion said:

lol I'd make a rubbish stalker!

Thats the car in question. I see it about all the time. Wont mention the area for obvious reasons but its deff the same car

Edited by fridaypassion on Monday 15th December 21:44

Is it Yorkshire?

[CRA1G]

The_Doc said:

fridaypassion said:

lol I'd make a rubbish stalker!

Thats the car in question. I see it about all the time. Wont mention the area for obvious reasons but its deff the same car

Edited by fridaypassion on Monday 15th December 21:44

Is it Yorkshire?

...!!!

[fridaypassion]

shhh! I dont want to give anything away