Luxury car dealership goes bust

4:50pm Thursday 6th November 2008

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AN Exeter-based firm dealing in top-of-the-range cars has crashed with the loss of 19 jobs - a victim of the credit crunch.

Bentley West Country had a fleet of about 50 high-end models including Bentley, Rolls-Royce, Aston Martin, Ferrari, Porsche, Mercedes-Benz and BMW.

The firm traded on the £2.5m site for five years as a Bentley dealership in new and used luxury cars - but has now gone into administrative receivership.

Joint receiver Andrew Sheridan, of Baker Tilly, said there had been a fall-off in demand for top-end vehicles because of the current financial situation.

Mr Sheridan said insolvencies among motor traders rose by 18% during the third quarter of this year compared with the same period last year.

``Everyone is more than aware of the current crisis facing much of the motor industry, but the speed of the downturn at the luxury end of the market has been very severe,'' he said.

``In the last three months, plummeting second-hand values of luxury cars, combined with a drying-up of inquiries for new vehicles has caused Bentley West Country to run out of cash.

``Unfortunately it has ceased trading with the loss of all 19 jobs, which is particularly sad given the high quality of customer service given by the team.''

He said they had received a number of inquiries from interested parties, including a national operator who would maintain the Bentley marque across the South West.

There had also been inquiries from regional operators who would take on the operation of the site as a motor retailer, though not at the luxury end of the market, and some international inquiries.