Monday, July 14, 2008
Horners closes as receivers are called in
Manchester-based dealer group Horners has ceased trading, following its entering receivership on Friday.
That followed reports on Thursday that the £38m turnover business, headed by managing director Richard Haytack, was in financial difficulties.
On Friday, Dermot Power and Matthew Dunham, business restructuring partners at BDO Stoy Hayward, conducted an immediate review and concluded there was no option but to close its two site in Manchester and Rochdale.
The receivers hope to be able to secure the sale of the two properties.
Mitsubishi and Skoda were Horners only franchise partners, after a significant downsizing project following the collapse of MG Rover.
DATED: 14.07.08
FEED: AM
That followed reports on Thursday that the £38m turnover business, headed by managing director Richard Haytack, was in financial difficulties.
On Friday, Dermot Power and Matthew Dunham, business restructuring partners at BDO Stoy Hayward, conducted an immediate review and concluded there was no option but to close its two site in Manchester and Rochdale.
The receivers hope to be able to secure the sale of the two properties.
Mitsubishi and Skoda were Horners only franchise partners, after a significant downsizing project following the collapse of MG Rover.
DATED: 14.07.08
FEED: AM
