Independent used Porsche sports car dealer Specialist Cars Malton has ceased trading after administrators failed to find a buyer for the business.
North Yorkshire’s Ryedale Gazette and Herald newspaper reported that the classic car specialist, which has been established for more than 25 years, had closed its doors as a result of 'cash flow problems'.
Adrian Graham, from Sheffield-based insolvency and business turnaround specialist Graywoods, has been appointed joint administrator of the business, which operates from a site on Derwent Road, Malton.
The Gazette and Herald said that eight jobs were expected to be lost as a result of the closure.
Graywoods administrator Adrian Graham told the newspaper that the business had ceased to trade as a result of cash flow problems, adding that the company’s remaining assets will be sold at auction after the failure of attempts to find a buyer for the business.
Mr Graham advised all potential creditors to contact the Graywoods team on 0114 285 9500.