Car Connect Enters Voluntary Administration, Hundreds of Customers Affected
Car Connect, a platform facilitating car sales, has entered voluntary administration, affecting hundreds of customers who have paid for vehicles yet to be delivered. The Sydney-based company appointed RSM Australia Partners Jonathon Colbran and Brett Lord as joint administrators on February 26.
Impact on Customers
Investigations revealed approximately 200 customers are impacted by the company's collapse. This includes 181 individuals who paid deposits and 23 buyers who paid in full for undelivered cars.
Administrators stated that where payments have been made and orders cannot be fulfilled, these orders will convert into creditor claims. Car Connect is no longer trading and is not in a position to issue refunds.
Customers will be contacted as a matter of urgency, and eligible individuals can submit claims through the motor dealers and repairers' compensation fund.
Future of Car Connect
The administrators have initiated the process of finding a buyer for Car Connect. The business has been described as an attractive opportunity for potential buyers.
The priority in seeking a buyer is to achieve the best outcome for all stakeholders by maximizing the return for Car Connect's intellectual property.