Friday, August 22, 2008
Cash woes force closure
Family-run franchised dealership Moss Rose Motors in Macclesfield has been forced to close due to cash flow problems.
The business, which was owned by joint directors Barrie Singleton and his son Richard, represented Fiat, Nissan and MG Rover from one site.
Joint administrators Simon Wilson and Anne O’Keefe, from Kroll, were appointed on July 18.
The Singletons also ran the website www.better-deal.co.uk, which sourced new and used Fiats and Nissans through main dealers.
It is also in administration and has ceased trading, although the website was still online as AM went to press.
Moss Rose Motors continued to operate while Kroll tried to sell it as a going concern.
The showroom has now been put up for sale and the company’s seven employees have been made redundant.
Wilson said: “Having considered all options for the business, it became clear that a sale of the Macclesfield site would represent the best realisation of assets in the circumstances.
“So far, we have received a number of offers from interested parties and are hopeful of securing a sale of the site in the near future.”
Nissan said it was aware of the difficulties Moss Rose Motors was encountering.
A spokeswoman for the Japanese manufacturer said: “We are disappointed to lose them but have begun conversations with alternative representation.
DATED: 22.08.08
FEED: AM
The business, which was owned by joint directors Barrie Singleton and his son Richard, represented Fiat, Nissan and MG Rover from one site.
Joint administrators Simon Wilson and Anne O’Keefe, from Kroll, were appointed on July 18.
The Singletons also ran the website www.better-deal.co.uk, which sourced new and used Fiats and Nissans through main dealers.
It is also in administration and has ceased trading, although the website was still online as AM went to press.
Moss Rose Motors continued to operate while Kroll tried to sell it as a going concern.
The showroom has now been put up for sale and the company’s seven employees have been made redundant.
Wilson said: “Having considered all options for the business, it became clear that a sale of the Macclesfield site would represent the best realisation of assets in the circumstances.
“So far, we have received a number of offers from interested parties and are hopeful of securing a sale of the site in the near future.”
Nissan said it was aware of the difficulties Moss Rose Motors was encountering.
A spokeswoman for the Japanese manufacturer said: “We are disappointed to lose them but have begun conversations with alternative representation.
DATED: 22.08.08
FEED: AM
