Scottish car dealership goes into administration

Thu, 09 Jan 2020 | ADMINISTRATION



Scotland’s Leven Car Company has gone into administration and has appointed Stuart Robb and Michelle Elliott of Leonard Curtis Recovery Limited as it seeks a buyer.

The company employs 139 staff at showrooms in Costorphine and Bankend, Edinburgh and Selkirk in the Scottish Borders. Staff arriving for work on Wednesday were reportedly turned away after being informed of the administration.

Leven has not published results since the year ending December 2017, when it achieved turnover of £45 million, an increase of 28.9 per cent on 2016, and a pre-tax loss down 252.6 per cent at £323,541, following a profit of £212,001.

However, last year the company said it had seen an increase in new car sales along with a 138 per cent rise in Kia-approved used car sales.

The flagship Costorphine showroom sells high-end cars, including holding the franchise for Rolls-Royce, while the company is also the sole franchise-holder for Aston Martin in Scotland.

In March 2018, Leven acquired the Kia and Suzuki franchises in Selkirk from the Belmont Group. Leven also sells Mitsubishi, Caterham and Lotus.

None of Leven’s 139 staff have been made redundant, with the administrators continuing to assess the company’s financial position. Leven has also said it will maintain a presence at its dealerships in order to address customer queries.

Joint administrator Stuart Robb said: "We are currently assessing the company's financial position with a view to seeking a buyer for all or parts of the business.”

"This is a unique opportunity to acquire a business with a strong reputation, excellent customer base, and a highly knowledgeable and loyal workforce."


Share this article



Latest Businesses for Sale

Tables, Chairs & Childcare Products to the Hospitality Industry
UK Wide

Products include table tops and bases, highchairs and stools.Operates with over 150 clients, all of whom provide reliable and repeat business.Members of the FIRA trade association.Multiple opportunities for growth.Offers invited.

Asking Price: Offers Invited
Turnover: £1,200,000

LEASEHOLD


DIY & Hardware Products Retailer
UK Wide

Functions as a one-stop shop for all of its clients’ requirements,providing complete solutions.With an average length of service of 12 years, all staff members boast strong levels of knowledge, enabling the business to forge a strong working environm...

Asking Price: Offers Invited
Turnover: £7,300,000

FREEHOLD


Online Retailer of Homeware & Giftware
Lincolnshire, East Midlands, UK

The business offers an online retail service for a wide and varying range of branded homeware, giftware and beauty items of exceptional quality. They specialise in selling British and European brands throughout the world. This is an ideal business op...

Asking Price: £2,100,000
Turnover: £3,500,000

FREEHOLD



View more businesses for sale

News Search

Latest News

 
24
 
Jan
 

Hawkin’s Bazaar enters administration | ADMINISTRATION

Norwich-based novelty toy retailer Hawkin’s Bazaar has...

 
23
 
Jan
 

MBO at Bristol-based media training firm | MBO/MBI

Mentor Media Training has been acquired by lead consultant D...

 
22
 
Jan
 

Chelmsford warehouse management firm bought by software provider | BUSINESS SALE

Chelmsford-based warehouse management solutions provider Min...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources