AM Online

VW dealer Loders expected to be under new ownership by end of this week

Volkswagen and Skoda dealer Loders is understood to be on the verge of new ownership after hitting a financial crisis.

The company already disposed of its Yeovil Audi business to Ocean Automotive earlier this month.

That left it with Volkswagen and Skoda sites in Yeovil and Dorchester.

AM understands negotiations are underway sell the business to Heritage Automotive, which already partners Volkswagen in Bristol, Weston-super-mare, Salisbury and Westbury. That deal is expected to be completed later this week.

Companies House records show Loders’ latest accounts are two months overdue, and Brian Singer, Alan Scrimgeour and Stephen Parkinson terminated their directorships at the start of November. Another director Adrian Bull resigned as an employee and director in June 2011 before the financial problems materialised.

A spokeswoman for the business said it was not in administration, and added that a statement would be issued by the end of this week.

She declined to comment whether a sale of the business was imminent.

However a spokeswoman at Volkswagen UK said it understands the business is in administration and VW is working with a potential buyer to finalise details of a sale of the company and ensure continuity for customers.
 

If you are not a registered user your comment will go to AM for approval before publishing. To avoid this requirement please login.

Comment as guest


Login  /  Register

Comments

No comments have been made yet.