Project
BTG Eddisons was instructed to support the administration of Pilgrims of March Limited, a Ford main dealership operating from a freehold site in Cambridgeshire. Following the cessation of trading, an immediate response was required to secure assets, protect value and provide advice to the appointed administrators.
The project involved the valuation and disposal of a wide range of assets, including vehicle stock, plant and equipment, while also supporting the sale of the freehold property and a holiday lodge in Norfolk.
Approach
BTG Eddisons provided day-one support on site, assessing operational requirements and addressing urgent security concerns following closure of the dealership.
The team delivered valuation advice on more than 40 forecourt vehicles, enabling early engagement with Vehicle Stocking Finance Companies and helping to protect asset value. Owned assets, including plant, vehicles and stock, were identified, secured and prepared for disposal through BTG Eddisons’ specialist Auction Sales Team.
Working collaboratively across multiple service lines, the project also involved real estate advisory support for the disposal of the freehold site and holiday lodge, specialist insurance advice, and the implementation of enhanced security measures. These included remotely monitored alarm systems, service isolation and lock changes to safeguard the vacant premises.
Results
Through a coordinated multi-disciplinary approach, BTG Eddisons successfully secured, valued and disposed of the dealership’s assets within agreed timescales.
The vehicle stock, plant and equipment were sold efficiently, while the freehold property and associated holiday lodge were successfully transacted despite a number of challenges throughout the process.
The project demonstrated BTG Eddisons’ ability to provide rapid response support in insolvency situations, bringing together auctioneering, valuation, real estate, insurance and security expertise to protect value and deliver a positive outcome for the administrators and stakeholders.
