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Begbies Traynor rescues two of seven Southgate sites so far

Begbies Traynor rescues two of seven Southgate sites so far

Administrators of the Southgate Motor Group which crashed in November have managed to negotiate the reopening of two of the seven sites that were closed.

Julie Palmer and Kirstie Provan of corporate recovery specialists Begbies Traynor were appointed administrators on November 11, 2011.

Mrs Palmer said they were pleased to announce that the Bridport site had now re-opened as a Mitsubishi dealership. Motorwell Ltd has agreed a new lease with the landlord and bought the company assets on the site from the adminstrators.

Several of the former Southgate employees have now been employed by the new company.

Southgate’s former Romsey site has also now re-opened as a Peugeot dealership.

Mrs Palmer said: “The landlord has agreed terms with Snows Motor Group, thereby preserving one of the oldest Peugeot dealerships in the UK, creating 25 jobs in the process.

“This will be good news for the many Peugeot owners who have been in contact with the administrators.

A spokesman for Snows Motor Group said they had already taken on about 12 ex-Southgate staff from across their various branches and may take on more as they move towards full capacity.

The £40 million turnover Southgate Group was based at Romsey and had Peugeot, Mitsubishi, and Subaru franchises on seven sites across Hampshire and Dorset.

Julie Palmer

About the author

Julie Palmer

Regional Managing Partner

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Julie is a law graduate who qualified with Price Waterhouse in 1994. Julie joined Smith & Williamson in 1997 and became a partner in 2001. With Mike Stevenson, Julie set up Middleton Partners offices in Salisbury and Southampton, both of which are now part of Begbies Traynor.

Julie is a member of the Insolvency Practitioners Association and the None Administrative Receivers Association and is a Fellow of The Association of Business Recovery Professionals. Julie deals with all aspects of Corporate Recovery and turnaround work and takes all form of personal insolvency appointments.

Advice You Can Trust

Insolvency Practitioners Association Institute of Chartered Accountants in England and Wales R3: Association of Business Recovery Professionals ICAEW Business Advice Service Turnaround Management Association ACCA (the Association of Chartered Certified Accountants) ICAS | The Institute of Chartered Accountants of Scotland