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Azets has been appointed as joint administrator of new and used vehicles group Completely Motoring.
Completely Motoring Limited, John Wilkins (Motor Engineers) Ltd, and Thunder Road Motorcycles have all entered administration.
Jonathan Amor, a restructuring partner and licenced insolvency practitioner has been appointed.
He has been appointed alongside Matthew Richards from Azets and Alessandro Sidoli from Xeinadin Corporate Recovery Limited.
The joint administrators are urging interested parties to make contact as soon as possible to maximise the chances of securing the future of the £70m turnover group.
In total, the group employs 165 people across 14 showrooms and 11 locations spanning Wales and the South West of England.
Amor said: “Unfortunately, the group has encountered financial difficulties after a poor summer sales period. As a result, the group has been placed into administration to protect it.
We are exploring sale options with interested parties.
“We have received several expressions of interest and we urge any other parties to make contact as soon as possible, with a view to securing a future for the group and saving as much of the business, and as many jobs, as possible.”
