After going bust, for the second time, owing an eye watering £6m, ‘Coys’ appears to be back in business…
After going bust, for the second time, owing an eye watering £6m, ‘Coys’ appears to be back in business. The new ‘Coys’ is listed at Companies House as ‘Coys of London Automobiles Ltd”, with the limited company no 12687046. The new entity is legally separate from the old one that crashed owing £6m. The only listed shareholder states his residence as Dubai. The new Coys website says the following;
“In 2020 ownership of the business changed hands for the first time in over 20 years. Now completely restructured with a new management team in place….recognising the changing needs of our clients, we have simple and transparent payment processes transacting through ring-fenced client bank accounts.”
Interestingly, their ‘new’ Managing Director, Mr Nick Wells, is the same as the previous Managing Director. Nothing wrong with that. We’ll keep you all posted.
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