Liquidation Auction

[Rugged Path]

Due to Chester & Manchester dealers closing down 'for good it seems', all bikes, accessories and clothing is up for auction.
Doubt if 2024 models got this far to them (could be wrong).


Sent from my MI 9 using Tapatalk

 

[Doc]

Hopefully some of the money will go to customers who had orders in for accesories bikes ect.

 

[theoneandonly]

Hopefully some of the money will go to customers who had orders in for accessories bikes etc.

most unlikely ,

Tax man first

bank second ( and if it doesn't get this far , the bank will go after whoever signed the overdraft forms)

and they will have paid £5k upfront for the liquidators to come and do their job .

the company i was involved with , when they went bust , the firm involved charged fees in total of £25k for dealing with it all .

thankfully it was 3.3 years after i had left .

directors are accountable for 2 years from leaving.

Assets Of A Harley Davidson and KTM Dealership

Assets Of A Harley Davidson and KTM Dealership

www.lsh.co.uk

they must have been doing something right ?
OR
forced to purchase stock , cos it's been on the floor so long ?

 

[steve hughes]

That looks like the ktm demo fleet and that lovely WLA they had downstairs.

 

[steve hughes]

most unlikely ,

Tax man first

bank second ( and if it doesn't get this far , the bank will go after whoever signed the overdraft forms)

and they will have paid £5k upfront for the liquidators to come and do their job .

Im happy to be proved wrong but the above is dated and currently wrong. The order of creditors in a liquidation is as follows , so google tells me. Inland revenue were bumped off the top of prefs as they could be considered to have caused or prompted the liquidation then swoop in first.

Re Docs comments I regrettably think folk with goods on order that have been paid for will be right at the end and probably end up with nothing or pennies in the pound.

• Secured creditors with a fixed charge.
• Administrator/Liquidator fees.
• Preferential creditors.
• Secondary preferential creditors (expanded to include HMRC for certain taxes)
• Secured creditors with a floating charge.

• Unsecured creditors (including all other HMRC debt)
• Shareholders

 

[Bubb]

I will bid a tenner for the WLA…..delivered

 

[sycomoto]

most unlikely ,

Tax man first

bank second ( and if it doesn't get this far , the bank will go after whoever signed the overdraft forms)

and they will have paid £5k upfront for the liquidators to come and do their job .

the company i was involved with , when they went bust , the firm involved charged fees in total of £25k for dealing with it all .

thankfully it was 3.3 years after i had left .

directors are accountable for 2 years from leaving.

Assets Of A Harley Davidson and KTM Dealership

Assets Of A Harley Davidson and KTM Dealership

www.lsh.co.uk

they must have been doing something right ?
OR
forced to purchase stock , cos it's been on the floor so long ?

Interesting. They only have 4 newish Harley’s in the auction. Wonder what happened to all the others. Maybe the director has a large garage.lol

 

[theoneandonly]

Im happy to be proved wrong but the above is dated and currently wrong. The order of creditors in a liquidation is as follows , so google tells me. Inland revenue were bumped off the top of prefs as they could be considered to have caused or prompted the liquidation then swoop in first.

Re Docs comments I regrettably think folk with goods on order that have been paid for will be right at the end and probably end up with nothing or pennies in the pound.

• Secured creditors with a fixed charge.
• Administrator/Liquidator fees.
• Preferential creditors.
• Secondary preferential creditors (expanded to include HMRC for certain taxes)
• Secured creditors with a floating charge.

• Unsecured creditors (including all other HMRC debt)
• Shareholders

probably true , my experience was 10 yrs ago .

 

[steve hughes]

probably true , my experience was 10 yrs ago .

Mine too , but at the time there were moves to knock hmrc down the list as everyone agreed in a liquidation or insolvency it was unfair for them to be a pref.