All's well at Inchcape

PROMINENT automotive collective Inchcape has unintentionally sent ripples through the industry by listing several companies under its control on the Australian Securities and Investments Commission’s website as being in the hands of liquidators.

The business housekeeping move triggered rumours that the company was in trouble.

Inchcape imports the Subaru range into Australia and New Zealand, holds interests in a number of major car dealerships and runs Autonexus, a parts distributor and fleet maintenance and refurbishment business.

Companies listed on the ASIC liquidator list include Autonexus Services Pty Limited, Inchcape Automotive Australia Pty Limited, Inchcape Distributors Australia Pty Limited and Inchcape Nominees Australia.

In a statement to GoAuto, Inchcape Australia said: “This ASIC notice simply refers to a number of old/non-trading companies that were no longer active and are being wound-up.

“Most of the these companies haven’t traded for 10 or 15 years, so they are being wound up to simplify our corporate structure and reduce administration costs.

“There are absolutely no employment implications as the companies were inactive and absolutely no implications in respect of our financial standing.”

Inchcape imported both Jaguar and Volkswagen into Australia in the late 1990s under its own name. Corporations will often leave dormant companies active for a number of years in case a claim is made against the company.