Dealer in receivership
An Auckland dealership specialising in prestigious late-model European vehicles and an associated repair business have been put into receivership.
Beacham European, which operated from a showroom on Great South Road, Penrose, and Beacham Parts and Service had receivers appointed by Prime Finance Ltd on October 10.
Alexander Beacham, the sole director of both companies, has also been put into receivership by the finance firm.
The moves come after Prime Finance exercised its powers in a term loan agreement dated January 14, 2025, and a general security agreement dated May 16, 2025, with Beacham and his two companies.
Adam Botterill and Damien Grant, from Waterstones, have been appointed as joint receivers.
An application from the commissioner of Inland Revenue to put Beacham Parts and Service into liquidation has also been filed in the high court and is due to be heard on November 6.
Beacham told Stuff the companies were “winding up” after not trading for about a year. He said they were separate from Beacham Special Vehicles Ltd, which is run by his father, Gregory Beacham, in Hawke’s Bay.
The appointment of receivers happened days before a high court judgement ordered Beacham European to pay the new owner of its former showroom at 491 Great South Road, pictured, more than $61,000, reports Stuff.
The $2.6 million property was sold in a mortgagee sale this year to 491GSR Ltd, which issued a notice to Beacham European to vacate the site.
Beacham European claimed it had a lease until 2033 and applied to the court for urgent relief to prevent cancellation of the lease.
After a hearing in July, Justice Laura O’Gorman found there was no basis for the claim and the application should not have been made. Beacham European was ordered to pay $61,314.50 costs to 491GSR, reports Stuff.
