News: One of the UK's classic car firms, JD Classics goes into administration
Could this be the beginning of the end for classic car dealerships?
JD Classics is a renowned UK classic car dealership that not only trades with classics, but they also have their own racing division. At present it is thought that they own around 110 classic cars which can be viewed at their flagship showroom in Mayfair, London.
administration firm Alvarez & MarsaL”the opportunity to acquire JD reflects the need to return value to stakeholders following the discovery of certain financial irregularities within the business.
Trouble for the firm began several months ago when the companies founder, Derek Hood had a law suit filed against him by Mike Tuke. Mike accused Derek of 'deliberate and dishonest conduct' to which the judge agreed.
Last month it was also reported by Sky News that JD Classics was looking for a new buyer following an investigation into some 'financial irregularities' were discovered.
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Comments (2)
Hmmmmm......no, one individuals problem(s) does not spell doom!, other people still make cars after Rover ended........
"Could this be the beginning of the end for classic car dealerships?"... I'm going with no.