Completely Motoring Limited, Thunder Road Motorcycles Limited, and John Wilkins (Motor Engineers) Limited have announced that they have entered into administration. The announcement was made on the company’s social media channels this afternoon, following days of speculation in the trade. The group employs 165 people in 14 retail showrooms across Wales and the South West of England.
Jonathan Amor and Matthew Richards, licensed insolvency practitioners with the UK top ten accounting and advisory firm Azets, have been appointed joint administrators along with Alessandro Sidoli of Xeinadin Corporate Recovery Limited.
The joint administrators urge interested parties to contact them promptly to maximize their chances of securing the future of the £70 million turnover group.
Joint administrator Jonathan Amor, a restructuring partner at Azets, stated, “The group has faced financial challenges following a disappointing summer sales period. Consequently, the group has been placed into administration for protection. We are currently exploring sale options with interested parties. We have already received several expressions of interest and encourage other parties to get in touch as soon as possible. Our goal is to secure a future for the group and preserve as much of the business and as many jobs as possible.”
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