BDO Stoy Hayward has stated in a report to creditors that there are “difficulties surrounding the identi-fication and location of leased vehicles”.
Its review has identified “a number of issues regarding the ownership of vehicles including multiple financing of vehicles, the apparent disappearance of a significant number of vehicles and difficulties surrounding the identi-fication and location of leased vehicles.”
The report estimated that Porritt Motor Holdings, which traded as Carshock, went bust with debts of £4.4m. Mike Porritt, managing director, said: “Until we have a definitive position it’s hard to comment on analysis which is only half-way complete.”
However Porritt did not rule out a return to motor retail. He added: “The bottom line is we want to get this situation sorted out, then we can take a breath and see where to go from there.”