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Liquidators have listed 61 collectors owed a mixed whole of £1.14m after luxurious automobile retailer Autovogue slipped into liquidation this month.
Paperwork filed with Firms Home yesterday (March 26) confirmed that BCA Associate Finance was the principle creditor of Staffordshire-based Autovogue, which ceased buying and selling in February – leaving a path of dissatisfied clients.
Big Enterprise Money owed
The inventory funding supplier is owed over £635,000 and seems in a listing alongside corporations together with the Nationwide Westminster Financial institution, HMRC and Micheldever Tyre Companies within the record compiled by liquidators at Southampton-based Quantuma Advisory Restricted.
Again in February AM reported that Autovogue, which was based by managing director Stuart Brown over 25 years in the past, had ceased buying and selling after blaming “failing used Jaguar Land Rover autos” for its faltering monetary fortunes.
The declare got here as former clients of the retailer shaped an ‘Autovogue AVR Victims’ Fb group to assemble proof of autos left with “finance markers” associated to excellent stocking loans.
A press release posted through the Autovogue web site on the time apologised to clients and listed numerous causes for the enterprise’s failure.
It acknowledged: “With deep remorse and a heavy coronary heart Autovogue UK Restricted has ceased buying and selling.
“Sadly, lately and with the event of the worldwide economic system after COVID-19, additional compounded by Ukraine and excessive UK inflation the automotive sector has been hit laborious with important pressures.”
Among the many points Autovogue claimed it had confronted was a £198,000 restore price for “enormous further prices and persevering with points with failing used Jaguar Land Rover autos”.
Autovogue’s assertion stated that the enterprise was co-operating absolutely with Leonard Curtis and its finance accomplice to “carry any finance markers nonetheless to be faraway from some potential automobile finance agreements”, including: “That is the administrators’ major concern with a view to give stability, consolation and an answer for purchasers and sooner or later to be eliminated.”
Jaguar Land Rover points
In response Autovogue’s allegations in regards to the reliability of the Jaguar Land Rover autos it had offered, a spokesperson for the producer stated: “At Jaguar Land Rover we’re dedicated to making sure our shoppers obtain the very best attainable ranges of service all through the possession cycle. As such we have now a longtime Authorised Used service community providing a clear market-leading scheme for patrons of pre-owned Jaguar or Land Rover autos.
“We now have 124 Authorised Used retailers within the UK all providing a minimal 12-month Authorised Guarantee, 12-months of 24/7 Roadside Help, 165 multi-point inspection and an unbiased mileage and historical past verify in order that we will present our clients’ peace of thoughts when shopping for a pre-owned automobile. We additionally function a 30 day/1,000 mile conditional automobile trade settlement, part-exchange service and complimentary driving experiences as normal.”
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