Smith & Williamson seeks buyer for UK leader Gowrings Mobility
Smith & Williamson, the accountancy and business advisory group, has been appointed administrator of Britain’s leading manufacturer and supplier of wheelchair passenger vehicles.
Newbury-based Gowrings Mobility Limited, which employs 120 staff and sold over 1400 wheelchair passenger vehicles last year ran into financial difficulties beyond its control.
The company sells converted new and used mobility cars and vans from manufacturers such as Citroen, Chrysler, Fiat, Ford, Renault, Vauxhall and Volkswagen and had revenues of over £19.5 million in their last financial year.
Steve Adshead and Greg Palfrey, from the south coast office of accountancy group Smith & Williamson, have been appointed joint administrators.
Mr Adshead, based in Southampton, said: “Gowrings Mobility is a well-respected company with a reputation for excellence in all aspects of the business, leading it to become UK’s leading manufacturer and supplier of wheelchair passenger vehicles.
“Unfortunately it hit financial difficulties in the face of base vehicle and vehicle leasing scheme cost increases.
“The company, which sells up to 100 vehicles a month, continues to trade while we look to find a buyer to rescue the business as a going concern and safeguard as many jobs as possible.
“We appreciate this is an anxious, unsettling time for everybody, as well as suppliers and customers, and we’re doing all we can to secure the future of the business.
“Vehicles booked in for work will be carried out as normal during the interim, which should reassure customers.”
Gowrings Mobility’s showroom, offices and 45,000 ft2 conversion factory are in Newbury. Customers include the disabled, carers and healthcare providers.
The company invented the original ‘wheelchair passenger vehicle’ – a converted Austin Mini Countryman – and makes all kinds of alterations, from lowered floors to secure restraint systems and lightweight ramps.
It was also the first supplier of wheelchair accessible vehicles to the national Motability Scheme, set up by the government in 1977.
The scheme enables disabled people to use government-funded mobility allowances to obtain a new car, powered wheelchair or scooter, with Gowrings Mobility offering one of the widest ranges in a UK-wide network of dealers.
It is the second time within a week that Smith & Williamson has been appointed administrators to the motoring industry.
Mr Palfrey and joint administrator David Blenkarn are also looking to find a buyer for the Bicknells Vauxhall car dealership at Tipton in the West Midlands.
Interested parties should contact Smith & Williamson’s Southampton office:
Steve Adshead or Amanda Phillips on 023 8082 7619
Steve.adshead@smith.williamson.co.uk
Amanda.phillips@smith.williamson.co.uk
Disclaimer
By necessity, this briefing can only provide a short overview and it is essential to seek professional advice before applying the contents of this article. No responsibility can be taken for any loss arising from action taken or refrained from on the basis of this publication. Details correct at time of writing.
Note to editors
Smith & Williamson is an independent professional and financial services group employing over 1,500 people. The group is a leading provider of investment management, financial advisory and accountancy services to private clients, professional practices and mid-to-large corporates. The group operates from offices in London, Belfast, Birmingham, Bristol, Dublin, Glasgow, Guildford, Maidstone, North London, Salisbury, Southampton, and Worcester.
Smith & Williamson Limited
Regulated by the Institute of Chartered Accountants in England and Wales for a range of investment business activities. A member of Nexia International
Smith & Williamson Corporate Finance Limited
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