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123 Missing Vehicles.
Brits left £7m out of pocket after UK caravan firm collapses with 123 missing vehicles
Brits who invested in a UK motorhome business have been left £7million out of pocket after the company went into administration with more than 100 vehicles "missing".
UnbeatableHire Limited used the loans to buy motorhomes, promising to give lenders all of their money back and returns of up to 10% a year once the business was off the ground.
But lenders have been out of pocket since the company went into administration in 2019 and 123 motorhomes have now been reported missing.
The BBC, which carried out an investigation into the firm, found people were invited to lend the company up to £36,000 a time, with each loan secured against an individual motorhome that would be bought with their money.
The lenders were told if anything went wrong, they could always claim the motorhome, with their right to it listed in a legal document called a chattel mortgage, which was filed at Companies House.
However, in December 2019, the company filed for administration.
UnbeatableHire still had about 350 motorhomes, but the administrators - Antony Batty & Company - said that another 123 vehicles were "missing".
Some were shown as "stolen" in company records, but the administrators said they had never been reported stolen to the police.
https://www.msn.com/en-gb/money/other/brits-left-7m-out-of-pocket-after-uk-caravan-firm-collapses-with-123-missing-vehicles/ar-BB1cDZjt?ocid=msedgntp
Brits who invested in a UK motorhome business have been left £7million out of pocket after the company went into administration with more than 100 vehicles "missing".
UnbeatableHire Limited used the loans to buy motorhomes, promising to give lenders all of their money back and returns of up to 10% a year once the business was off the ground.
But lenders have been out of pocket since the company went into administration in 2019 and 123 motorhomes have now been reported missing.
The BBC, which carried out an investigation into the firm, found people were invited to lend the company up to £36,000 a time, with each loan secured against an individual motorhome that would be bought with their money.
The lenders were told if anything went wrong, they could always claim the motorhome, with their right to it listed in a legal document called a chattel mortgage, which was filed at Companies House.
However, in December 2019, the company filed for administration.
UnbeatableHire still had about 350 motorhomes, but the administrators - Antony Batty & Company - said that another 123 vehicles were "missing".
Some were shown as "stolen" in company records, but the administrators said they had never been reported stolen to the police.
https://www.msn.com/en-gb/money/other/brits-left-7m-out-of-pocket-after-uk-caravan-firm-collapses-with-123-missing-vehicles/ar-BB1cDZjt?ocid=msedgntp