Car dealership Waters slides into administration
PUBLISHED: 16:53 06 October 2011 | UPDATED: 09:45 07 October 2011
MOTOR sales firm Waters, which has dealerships in Hertfordshire, Essex, Kent, Hampshire and London, has gone into administration.
Corporate advisory and restructuring specialists Zolfo Cooper was called in yesterday (Wednesday), with the firm struggling in the current economic climate.
The Peugeot dealership in Hatfield formerly run by Waters, but now known as Spire is unaffected.
A message on the company’s website reads: “Kevin James Coates, Charles Peter Holder and Anne Clare O’Keefe were appointed Joint Adminstrators of Waters Retail Limited on 5 October 2011.”
The note adds: “The affairs, business and property of Waters Retail Limited are being managed by the Joint Administrators.
“The Joint Administrators act as agents of Waters Retail Limited and without personal liability.”
The company employs 209 people, although it is not yet known how many of those jobs are at risk – or what it means for the dealership’s customers.
Waters AutoPlanet has a number of sites across the region, selling Peugeot, Renualt, Kia, Mazda and Fiat vehicles.
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