Paul Dumbell and David Standish from KPMG’s Restructuring practice have been appointed joint administrators to Slaters of Abergele Limited
Paul Dumbell and David Standish from KPMG’s Restructuring practice have been appointed joint administrators to Slaters of Abergele Limited, Slaters of Ruthin Limited and Slaters North Wales Car Centre Limited, a family motor business based in North Wales.
The three companies operate from two sites in Abergele and Mochdre. The Abergele site is the principal trading site from which the company sells new and used Nissan and Citroen cars, while the site in Mochdre is used primarily for servicing and repairs. The business employed 74 people.
Paul Dumbell, director at KPMG and joint administrator, commented: “In recent months, the Group has experienced severe cash flow pressure driven by continued trading losses, a downturn in new car sales and restrictions on used car finance. This has resulted in facility limits being reached and missed payments to the company’s creditors.
“With no prospect of an upturn in trading, it is our intention to commence a managed wind down of the business. Regrettably, we have therefore had to make 68 members of staff redundant, with the remaining staff being retained in the short term to assist us with the closure of the sites.
“Any customers with outstanding orders are advised to contact email@example.com and we will endeavour to respond as quickly as possible.”
The group has another entity, Slaters North Wales Limited, which operates from sites in Colwyn Bay, Caernarfon and Anglesey. This company is not in administration. Any queries in relation to this company should be directed to the business via the usual contact details.
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