Page 1 of 1
#1 Coys of Kensington Automobiles Limited ( again)
Posted: Sun Apr 26, 2020 5:17 pm
by christopher storey
A word of warning - Coys of Kensington Automobiles Limited entered into administration on 23rd April 2020. Part of the spiel of the administrators says " This is a director-led administration " . Not a term of art known to me, so I fear this may be yet another phoenix from the ashes type fiasco. The moral is obvious
#2 Re: Coys of Kensington Automobiles Limited ( again)
Posted: Sun Apr 26, 2020 8:42 pm
by 288gto
Hopefully they don't owe anyone on here money Chris.
More details here..
https://www.thegazette.co.uk/notice/3553057
#3 Re: Coys of Kensington Automobiles Limited ( again)
Posted: Wed Apr 29, 2020 6:44 pm
by Barry
Coys have a appalling record. It’s happened a few times now. They are all a bit too much up their own backsides for me. Too much hot air, no substance. Let’s see if they really do rise from the ashes yet again.....
#4 Re: Coys of Kensington Automobiles Limited ( again)
Posted: Wed Apr 29, 2020 9:32 pm
by abowie
£4 million owed to creditors in 2019 if you look at their balance sheet...
#5 Re: Coys of Kensington Automobiles Limited ( again)
Posted: Thu Apr 30, 2020 10:10 am
by christopher storey
Yes, they were on a knife edge last year, with net current assets ( including stock which is a moveable feast if ever there was one ) only a few hundred thousands over the amount owed to creditors. The events at Essen didn't help matters , and I suppose the end was inevitable. It must be at least the 3rd time they have gone bust
#6 Re: Coys of Kensington Automobiles Limited ( again)
Posted: Thu Apr 30, 2020 9:43 pm
by abowie
Is Arthur Daly one of the directors?