Richard Keley and Andy Pear of BM Advisory LLP, the specialist restructuring, recovery and insolvency firm, were appointed Joint Administrators of Just Motor Care Limited (“JMC” or the “Company”) on 16 January 2017.
JMC is a car and van MOT, repair, maintenance and inspection service business operating from 13 sites across the South East of England and employing 42 staff.
11 of the 13 sites have been sold on the same day as a going concern to Motest Southern Limited (“Motest”), an unconnected industry participant. The sale has secured the jobs of 29 of the 42 employees.
Commenting on the appointment and sale, Richard Keley says: "Despite an excellent reputation for high standards and quality customer service, unfortunately the business experienced cashflow difficulties due to larger competition and seasonality, and was unable to pay off its debts."
Richard Keley continues: "Following an accelerated distressed business sale process, we are delighted to have completed a sale of the business and assets to Motest. The sale of the sites preserves the jobs of the majority of the workforce and represented the best outcome for creditors, as well as the business and its stakeholders.
“The company has a longstanding reputation with a high level of repeat custom and, under new ownership, we feel confident it will be able to prosper.”
Commenting on the purchase of JMC, John Ball, Managing Director of Motest, said "It's always sad when a good business gets into difficulty, so I am pleased for the JMC staff and customers that we could bring such a good strategic fit into Motest."
There are also franchise sites at Hastings and Eastbourne which are unaffected by the Administration or sale.
Regrettably 13 staff have been made redundant and BM Advisory are providing the necessary advice and support to them. The remaining sites in Crayford and Medway will be closed unless alternative buyers are found immediately. Interested parties in these sites or assets should contact Richard Keley on Tel. +44 (0)1293 410 333 or via email at Rich.Keley@bm-advisory.com.
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For more information, please contact:
Georgina Swain, PR - BM Advisory
T: +44 (0)203 286 8817
Notes to editors:
1. BM Advisory LLP specialises in providing restructuring, recovery and insolvency solutions for individuals and businesses.
2. Located in the City of London, Gatwick, Manchester, Southend-on-Sea and Worthing, BM Advisory understands the importance of acting swiftly in order to identify and advise upon business critical issues, however complex and no matter where the business is located.
3. Recognising that no two assignments are the same, BM Advisory offers bespoke solutions and a tailored approach to dealing with issues impacting business performance and success.
4. Key services include: Corporate recovery, personal insolvency, fundraising, assistance with accelerated payment notices, cross border restructurings, and independent advice to other professionals.
5. BM Advisory is a division of accountancy, tax and business advisory firm Beavis Morgan LLP
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For information about Motest Southern Limited, visit http://www.motest.co.uk/about/