The supercar dealership that disappeared overnight with customer cars has been officially wound up, with liquidators appointed to untangle the mess left behind by founder William Kirkham.
Targa Florio Cars Limited, the Chichester-based premium car retailer, had liquidators Mark Jonathan Fielding and Daniel Robert Hurd of FRP Advisory LLP appointed on December 17, 2024, according to documents filed with Companies House. The appointment was officially announced in the London Gazette on December 20.
The dealership's demise represents one of the more spectacular implosions in the supercar retail world. Operating on a sale or return model, Targa Florio would take possession of high-end vehicles from owners looking to sell, then market them to potential buyers. The arrangement should have been straightforward: sell the car, take a commission, return the proceeds to the owner.
Instead, multiple customers found themselves in an impossible situation. Their cars had been sold, but no money materialized. When they tried to contact the company for answers, they discovered the business had vanished completely. Website down. Phone lines dead. Physical premises abandoned.
The scale of the operation made the sudden closure particularly jarring for the supercar community. Targa Florio had positioned itself as a reputable dealer in the premium market, handling vehicles that typically sell for hundreds of thousands of pounds. The sale or return model, while not uncommon in high-end car retail, requires absolute trust between dealer and customer.
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That trust evaporated when Kirkham spoke to the BBC in January 2024, stating he was "filing for bankruptcy." The admission came months after the business had already shut down, leaving affected customers in limbo about their vehicles and money.
The winding-up order that preceded the liquidator appointments suggests creditors had run out of patience with Kirkham's handling of the situation. Such orders are typically sought when a company fails to pay its debts and other recovery methods have been exhausted.
FRP Advisory LLP, the appointed liquidators, now face the complex task of identifying and recovering assets from a business that operated in the high-value automotive sector. The firm specializes in corporate recovery and insolvency, with experience in untangling failed retail operations.
For the customers still missing their cars or money, the liquidation process offers a formal route to recovery, though the outcome will depend entirely on what assets the liquidators can identify and realize. The sale or return model that was supposed to protect customer interests may have actually made recovery more complicated, as establishing clear ownership and value of vehicles that have already been sold presents significant challenges.
The Targa Florio name, borrowed from the legendary Sicilian road race, promised prestige and performance. Instead, it delivered one of the messiest collapses the supercar retail sector has seen in recent years.
Sources: London Gazette | Companies House