Stricken luxury car dealership faces sell-off

THE fate of a fleet of luxury cars is to be decided in the coming weeks when the assets of a stricken Dublin dealership are divvied out by its receiver.

Vulture-like car enthusiasts are expected to begin circling the Ballyfermot showroom hoping for some cut-price top of the range vehicles that have to be sold off.

Parkwest Autopoint ceased trading at the end of June when the Dublin-based accountancy firm Baker Tilly O’Hare was appointed to reconcile its accounts.

The company dealt exclusively in luxury cars from brands such as Porche, Maserati and Lotus and operated from one base in Dublin 12. Now its e1 million stock of luxury cars is under lock and key as the receiver assesses the value of Parkwest Autopoint’s assets, all of which may be sold off to satisfy the company’s creditors.

The appointed receiver is on annual leave until Monday but spokesman for Baker Tilly O’Hare said that it intended to sort out the affairs of Parkwest Autopoint in the very near future.

He said: “We will not be delaying this process any more than we have to as we understand that people have been very inconvenienced by this.

“We are looking at a short time scale so it will be weeks rather than months or years.”

It is not a simple process of selling-off all of the stock as some of the cars on site were earmarked for trade-ins and the ownership of these vehicles will have to be ironed out.

The accountants will analyse all supporting documentation before releasing any of the cars and it will then decide which vehicles are to be sold off.

The company’s stock also includes cars that were left in for service and the receiver is anxious to have their status sorted out as quickly as possible.

There will be significant interest in the cars that will have to be sold to pay the company’s debts and the receiver said it will announce their fate shortly.