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Waters Autoplanet goes into administration

Waters Autoplanet, the 22 site dealer group based in the south of England, has gone into administration.

The business is appointing Zolfo Cooper as its administrator who will look to sell the business as a going concern.

John Hannah, Waters Autoplanet chairman, told AM: "Zolfo Cooper is working closely with our auditors ASE to find appropriate partners to acquire sites and staff and this process is on-going."

He could not comment further on reasons behind the company entering into administration at 1.15pm today.

The dealer group's website is still operational and calls are being taken at dealerships advising customers that sales executives will "call back".

The group represents Kia, Renault, Fiat, Mazda, Peugeot and Seat and also has used car supermarkets as well as a HiQ fast fit operation. The group’s sites are based in Barnet, Chingford, Harpenden, Letchworth, Maidstone, Southampton, St Albans and Tunbridge Wells.

The group closed two of its four Peugeot sites in 2008, but had been expanding recently with dealer openings in Tunbridge Wells with Kia and Seat in July 2010.

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Comments

  • AlfMoore - 05/10/2011 16:10

    Should we be surprised? I don't think so! This business failed years ago, it has never been in the professional motor trade business.Check out the business history? Edited for legal reasons.

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  • sedgar - 05/10/2011 16:43

    No one comes to work to do a bad job, I am sure senior management worked to save the company. Hopefully it will work out for staff facing redundancy at this difficult time.

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  • Irishboy4 - 06/10/2011 10:41

    Waters was one of the oldest dealers in the UK. The Hatfield site has been there since 1892, it held the record as the highst volume, privately owned petrol station in the UK. In terms of car sales it reflects the ever changing market in the UK, lower margins driven down by the ability of consumers to search for the best deal on the web. Waters/Autoplanet the dream RIP.

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  • regieman - 06/10/2011 19:02

    As an ex Autoplanet employee, I think AlfMoore is clearly not a motortrade professional either. If he was, then I am sure that he would have more sympathy for the huge number of very hard working people who find themselves facing an uncertain future. It was a pleasure to have worked with John Hannah and the late Darren Payne, who were never anything less than professional. My best wishes go out to all the staff.

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  • Irishboy4 - 09/10/2011 17:00

    Waters had many professional managers Darren Robins, Wade Gould, Alan Shultz, Dave Scurry, Steve Gurr,Peter jackson, Richard Allin and Tony Trueman tp name but a few.

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  • Irishboy4 - 14/10/2011 18:55

    Waters Winchmore Hill was built over a culvert of one of Londons 7 lost or sometimes referred to as redirected rivers. The original work dated back to the mid 1800's. When it rained heavily the culvert redirected over 7000 gallons an hour. This sub aqua feature prevented the redevelopment of the site for other uses. BLAC never mentioned the fact in their advertising. It was deemed as not related to motor trade interst.

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