A new and used vehicle group with sites across South West England and Wales has collapsed.
It is understood that family-run Completely Motoring, John Wilkins (Motor Engineers) and Thunder Road Motorcycles entered into administration after falling into financial difficulties. The company employs 165 staff across its 14 showrooms in 11 locations.
Jonathan Amor, a restructuring partner and insolvency practitioner at advisory firm Azets, has been appointed joint administrator, along with Matthew Richards (Azets) and Alessandro Sidoli (Xeinadin Corporate Recovery).
The administrators are urging interested buyers to get in touch in the hope of securing a rescue deal for the £70m turnover group.
Mr Amor said: “Unfortunately, the group has encountered financial difficulties after a poor summer sales period. As a result, the group has been placed into administration to protect it.
“We are exploring sale options with interested parties. We have received several expressions of interest and we urge any other parties to make contact as soon as possible, with a view to securing a future for the group and saving as much of the business, and as many jobs, as possible.”
According to its website, Completely Motoring is the car division of the Completely Motoring Group. Completely Motoring was founded in 2009 by current owner Rob Ayland and run with the help of his sons, George and James.