Motorhome company goes into administration with 26 job losses. (1 Viewer)

[ShiftZZ]

Published on Friday 17 August 2012 17:16



JOBS have gone at an award-winning Mexborough business after administrators were called in.



Bentley Motorhomes went into liquidation on Friday (August 17) according to the company’s administrators.

The 26 staff had already been made redundant.

Andrew Cordon and Richard Saville, of Begbies Traynor, were appointed as joint administrators of Bentley Motorhomes Ltd after a ‘significant reduction in sales’.

The company, which traded from Swinton Meadow Industrial Estate, last year had a turnover of £2.4 million.

The business was well known within the mobile home industry and has won awards for its innovation and design.

“It is particularly disappointing to be appointed to such a well run company and one that has an excellent reputation for the quality of its products,” said Andrew Cordon.

“The market in which the company trades is extremely competitive and the recent poor weather has done little for sales.”

He said the company directors and 110 creditors who were owed money by the company were at the meeting on Friday in Nottingham.

The company had already ceased trading, mothballed and locked up.

Mr Cordon said the deficit on the statement of affairs stood at £1.04 million. £440,000 relating to loans taken out by the directors and not repaid.

Assets were minimal, with everything sold off beforehand. No vehicles were left on the premises.

Bentley Motorhomes won three major awards in the Caravan Club Design and Drive Awards 2011.

The firm was well known for building custom-designed camper vans.

The company website said: “Our team have all won awards for design innovation, quality and aftercare throughout their careers - creating motorhomes and brands that have been lauded in the press and coveted by customers.

“We all have a lifetime of experience.”


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[Jim]

All cases are different but generally speaking, what happens is the directors loan account is written off by the liquidators and the directors get away with it, only having to pay tax as if the loan were a dividend. Meanwhile in most liquidations suppliers go hungryoh:

 

[Barclaybasher]

Published on Friday 17 August 2012 17:16

He said the company directors and 110 creditors who were owed money by the company were at the meeting on Friday in Nottingham.

The company had already ceased trading, mothballed and locked up.

Mr Cordon said the deficit on the statement of affairs stood at £1.04 million.
[HI]£440,000 relating to loans taken out by the directors and not repaid.

Assets were minimal, with everything sold off beforehand. No vehicles were left on the premises[/HI]

Bentley Motorhomes won three major awards in the Caravan Club Design and Drive Awards 2011.

The firm was well known for building custom-designed camper vans.

The company website said: “Our team have all won awards for design innovation, quality and aftercare throughout their careers - creating motorhomes and brands that have been lauded in the press and coveted by customers.
[HI]
“We all have a lifetime of experience.”[/HI]


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Seems the directors didn't know how to run the company, but did a very tidy job of winding it up!

It is a criminal offence to trade if you know you are insolvent - but very few get prosecuted

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[makems]

Before everybody gets themselves worked up into a lather of righteous indignation, the report is abysmal in it's lack of detail and precision and does not make it clear whether the directors had loaned the company the money and were'nt being repaid or whether they had borrowed the money from the company and weren't repaying it?
If the former, the directors are well out of pocket and won't get anything back. If the latter they deserve every ounce of opprobrium they get.
If the directors had borrowed the money from the company you can be sure the liquidators will be after them for every penny. They will be made bankrupt if necessary and have to sell their houses. Unless of course they are the sort of properly organised conmen who put companies into receivership/liquidation on a regular basis and have put all their assets beyond reach.
Lets not behave like tabloid editors and write the story without having the facts to support our version of events.

 

[Gooney]

If he sees this Terry will probably add to this post, but I recall him posting a couple of weeks ago a mate of his bought a job lot of 200 sink units from Bently long before the liquidation notice