Motor World Limited Goes Into Administration
Dermot Power, Graham Newton and Matthew Dunham, Business Restructuring partners at BDO Stoy Hayward, were appointed on 25 September as joint Administrators of Motor World Ltd. Motor World Ltd is one of the UK’s largest independent automotive car care retailers, trading from a chain of 237 retail units across the country. The Company also specialises in additional products including cycles and other leisure accessories.
As a result of a significant downturn in retail sales on the high street, 95 of the 237 retail units have been closed immediately with the loss of 300 jobs. The Administrators have however been successful in selling the remaining 142 units of the business to Pacific Retail Limited; a Company funded by the existing investors Bailey Capital Limited. This has resulted in saving approximately 500 jobs. The business trades from a head office in Huddersfield.