Targa Florio Cars Enters Liquidation: What Went Wrong for the Supercar Dealer?

Targa Florio Cars Collapse: A Cautionary Tale for the UK Supercar Market

In a significant development for the UK's specialist car retail sector, Targa Florio Cars director William Kirkham has confirmed to the BBC that the supercar dealer is 'entering liquidation' and that he is 'filing for bankruptcy'. This abrupt closure has left a trail of concerned customers and unanswered questions, highlighting the potential risks within the high-value used car market.

Customers Left Out of Pocket After Cars Sold Without Payment

According to a report by BBC Sussex, the collapse has had a direct impact on several customers who had entrusted their high-value vehicles to the dealership. The story details how three customers placed their cars with Targa Florio on a sale or return (SoR) basis, only to later discover that their vehicles had been sold without any funds being passed on to them. This situation raises critical questions for consumers: What protections exist when placing a car on sale or return, and what are the signs a dealer might be in financial distress?

Each customer reported being in communication with director William Kirkham until he abruptly ceased responding to their enquiries. One customer recounted being told the dealership would reopen on January 5th, but upon arrival, they found the premises emptied of all stock, with only office equipment and personal items left behind.

Director Blames 'Difficult Trading Conditions' for Liquidation

Through his solicitor, Kirkham attributed the business's failure to 'very difficult trading conditions'. Specific factors cited include a 'black book realignment'—likely referring to a significant drop in used car valuations—alongside increased business rates, higher national insurance contributions, and rising general business expenses. The solicitor confirmed the business would be placed into 'insolvent liquidation' and that Kirkham 'intends to apply for bankruptcy'. This explanation points to broader pressures facing automotive retailers, but does it absolve the company of its responsibilities to customers?

While the BBC report indicates that the three named customers have since received settlements, other individuals have come forward claiming they have had no contact from the business or its representatives. Kamrul Husan Sumon and Bradford Law, for instance, were expecting to receive £32,000 and £28,000 respectively for their vehicles, discovering they had been sold only when notified of a change of ownership by the DVLA. Frank and Millie Dowsett remain in the dark regarding the fate of their Morgan classic car, for which they were expecting £19,000.

Ongoing Police Investigation

Adding a further layer of seriousness to the situation, Sussex Police have confirmed they are aware of reports involving payment issues over vehicle sales relating to the company based in Chichester. A police statement confirmed that 'enquiries are ongoing at this stage.' The involvement of the police underscores the potential legal ramifications when customer assets are mishandled during a business collapse.

The sudden disappearance of Targa Florio Cars serves as a stark reminder of the importance of due diligence for anyone selling a high-value vehicle through a dealer. For the wider industry, it highlights the very real financial pressures, from fluctuating car values to rising operational costs, that can challenge even niche specialist dealers. As the liquidation process begins, many will be watching closely to see what lessons can be learned from this unfortunate collapse.