Motor traders forced to close

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Motor traders forced to close /resources/news/insolvency/1007-Motor-traders-forced-to-close

Home > News & Resources > News > Insolvency > Motor traders forced to close

Motor traders forced to close

Two Cheshire-based firms have been forced to cease trading after an investigation by the Insolvency Service.

CarWorldDirect.com was found to have not maintained or delivered adequate records of its accounts and not been open enough about who was controlling its affairs.

The Insolvency Service also alleged that a director who was disqualified from running a company was also involved in the Chester-based motor trader's management operations.

Similar issues were also identified at Penney Holdings Limited, as the same disqualified director was also helping to run this business as well.

The Insolvency Service brought the case to the High Court, which decided that winding up the two companies was in the public interest.

This comes after Stephen Speed, chief executive of the organisation, said it is "determined" to take action against the minority of rogue companies that deceive members of the public.

He urged people to be on their guard against the activities of "unscrupulous operators".

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