A leading Queensland auto dealership, Bryan Byrt Volkswagen, has been placed in administration, with staff advising customers it’s business as usual.
Andrew Fielding and Helen Newman of BDO were appointed as administrators of the business last week.
ASIC records show a number of companies related to Bryan Byrt Volkswagen have been placed in administration, including Bryan Byrt Volkswagen, Bryan Byrt Holdings, Bryan Byrt Services, Bryan Byrt Automotive and BJC Investments.
It follows the 2011 collapse of Brisbane car dealership Denmac Ford in May 2011, with that administration blamed on the Brisbane floods, despite the business turning over $104 million in the 2009-10 financial year.
Bryan Byrt Volkswagen operated a sales, service and parts centre in Capalaba, a sales centre in Mt Gravatt and a service centre in Mansfield.
The company was established in 1972 and at its peak had six locations across the southside of Brisbane.
“Bryan Byrt Automotive Group has long been recognised as one of Australia’s most successful dealerships, achieving levels of customer satisfaction that have become benchmarks for the motor industry nationally,” its website states.
Administrators were appointed for the companies on November 5, with the first creditors meeting scheduled for November 18 at the Wynnum Manly Workers Sports Club.
The meeting will examine whether to appoint a committee of creditors for the companies.
SmartCompany understands staff at the company have not been informed about any closure of the business, and at this stage are telling customers business is continuing as usual.
SmartCompany contacted Fielding and Newman but did not receive a response prior to publication.
Andrew Sadauskas is a former journalist at SmartCompany and a former editor of TechCompany.
