A Bentley dealership based in Exeter has been placed into receivership after running out of money as the credit crunch begins to affect retailers of high-end goods.
Bentley West Country closed its doors this week after sales of new cars completely dried up. Andrew Sheridan of joint receiver Baker Tilly said that the dealer hadn’t sold a new car for three months and that it had effectively run out of money.
He said: "In the last three months, plummeting second hand values of luxury cars, combined with a drying up of inquiries for new vehicles, has caused Bentley West Country to run out of cash."Unfortunately, it has ceased trading with the loss of all 19 jobs.”
The showroom has been stripped of its fixtures and fittings and all cars have been removed. The nearest Bentley dealer to the south west of England is now Bentley Cardiff.