Mercedes dealership files for bankruptcy?

Robbo

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Hi,

I saw a thread on another forum (non-car) that Greenoaks Mercedes has filed for administration.

As yet this is an unsubstantiated rumour, but I wouldn't be surprised given the current economic climate. I really hope this is not true. Does anyone have any further information?
 
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portzy

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No, but I've heard a rumour that the Richard Alexandra group of dealerships are to be taken over, some time tomorrow apparently.

Portzy
 

hawk20

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Hi,

I saw a thread on another forum (non-car) that Greenoaks Mercedes has filed for administration.

As yet this is an unsubstantiated rumour, but I wouldn't be surprised given the current economic climate. I really hope this is not true. Does anyone have any further information?
It would be much nicer if you e-mailed them via their excellent website first, before spreading unsubstantiated rumours which can harm any business.
 

jaymanek

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I doubt you would get much reply off a website if they are about to close up shop..

Like has been said, a LOT of car dealers are closing down. The private individual is not buying new at the moment.. shiny rotating floors and plastic secretarys are expensive.
 

BlackC55

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Our local Nissan, Citroen and Mazda dealers has just gone under. The technicians got notifed by text meaasge.

Tought time out there for dealers.

The local MB dealer is just about to lay off 3 technicians too.
 

Diesel Benz

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I would remove the words `floors and` from the aboce sentance to make whats left a better option,
I'm still confused, I thought it was not plastic but silicon that was expensive? :confused:
 

Mudster

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Sidlow went bang about a month or so ago around here, that took 5 dealerships with it.

Things are bad, very bad, I've not seen anything like this before.

I guess UK PLC is now paying the price for living on endless credit.

The music's stopped...and not a chair in sight.
 

hawk20

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Sidlow went bang about a month or so ago around here, that took 5 dealerships with it.

Things are bad, very bad, I've not seen anything like this before.

I guess UK PLC is now paying the price for living on endless credit.

The music's stopped...and not a chair in sight.
Dead right. Yet the govt wants the banks to go back to lending just as before at 2007 levels so we can start the game all over again!
 

Dieselman

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Dead right. Yet the govt wants the banks to go back to lending just as before at 2007 levels so we can start the game all over again!
Whilst I agree with your concern and do think the amount of lending has been foolish, is it that this is the alternative, hence the Govt. wants to keep enough money in circulation so the whole economy doesn't grind to a halt.
 

hawk20

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Whilst I agree with your concern and do think the amount of lending has been foolish, is it that this is the alternative, hence the Govt. wants to keep enough money in circulation so the whole economy doesn't grind to a halt.
It has already halted and gone backwards a bit. Are we to keep house prices at 7/8 times average earnings so the young cannot afford? Are we to lend more to people who already have debts up to their armpits?
 

Mudster

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I agree, we're trying close the gate after the horse has bolted, lived it's life and been to the glue factory.

All too little too late and all that can be done is damage limitation.

A lot of profitable viable businesses are going to the wall daily due to this nonsense. But that's capitalism.

Exponential growth is impossible, it has to go bang every now and again to actually exist, its just been allowed to grown to a previously unknown level....the bigger the bubble the bigger the bang.

We are still only at the beginning, 2009 is going to be carnage for big business and we're going to lose another 10 or so high street names.
 

Dieselman

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It has already halted and gone backwards a bit. Are we to keep house prices at 7/8 times average earnings so the young cannot afford? Are we to lend more to people who already have debts up to their armpits?
I did say I agreed with your comment, but there does need to be some spending taking place.
If everyone is out of work because no one is spending any money it won't matter what house prices are.
People do still need to keep the economy circulating money otherwise we will all be collecting our P45.

House prices will sort themselves out due to less available funds.
 

hawk20

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I did say I agreed with your comment, but there does need to be some spending taking place.
If everyone is out of work because no one is spending any money it won't matter what house prices are.
People do still need to keep the economy circulating money otherwise we will all be collecting our P45.

House prices will sort themselves out due to less available funds.
It never happens that no one is spending money. GDP has fallen only half a per cent so far.

Question is do you want banks to go back to their old lending habits when it is blindingly obvious that it was those lending policies that brought us and the US to the state we are now in. That is what they have been told to do ('lend at 2007 lending levels' is what the govt has said they must do). That means back to 100% mortgages and even more in some cases. And loads of credit card debt too.
 
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fyonn

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People do still need to keep the economy circulating money otherwise we will all be collecting our P45.
and so it is your duty, nah, obligation to the british economy to go out there and buy V8 and V12 powered cars! the purchases, along with fuel, insurance and servicing will be what drags this economy back to life!

you'll be a hero :)

dave
 

Alfie

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Hi,

I saw a thread on another forum (non-car) that Greenoaks Mercedes has filed for administration.

As yet this is an unsubstantiated rumour, but I wouldn't be surprised given the current economic climate. I really hope this is not true. Does anyone have any further information?
I would be very surprised if this were true as their dealerships are located in areas where the credit crunch wont hit anywhere near as hard on the customers who live around them.

They recently had a big fire in the workshop of the Ascot branch which must have cost them thousands if not millions so maybe they are feeling the pinch a bit but I doubt that they will go under.

I know a man who will know the answer though.
 

jeremytaylor

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What is it with MB Workshops and fires? They had one at Brooklands the other day, too.
 

talltimtam

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Also see on the BBC website that Aston Martin are shedding 600 jobs which is about third of its work force.
 

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