Minicoach and midicoach dealership Ilesbus UK went into administration on 23 March after a winding-up petition was filed by HMRC.
The Swansea-based supplier had sold vehicles in the UK built by the Turkish-based Ilesbus since 2018.
After giving notice of winding up on 7 January, Ilesbus UK has appointed BTG Begbies Traynor as administrators, although the business was still active on social media until this month.
Its most recently filed accounts, for the year up to May 2024, showed a loss of nearly £1.25 million.
Those accounts revealed annual turnover was more than £19 million but net liabilities were more than £300,000. That was after amounts falling due within that period surpassed £7 million.
The business’s financial statement described that accounting period as “very difficult” but said the Directors were confident that, with current orders, that it would return to profit.
Last year, Ilesbus UK moved into new 20,000-square-foot headquarters from near Bridgend and in April was reporting strong sales.
Ilesbus UK was set up by Creighton and Gary Johns in the UK, along with Ilker and Esra Yildirim, founders and owners of converter and bodybuilder Ilesbus. All four remained Directors and equal shareholders at the time it ceased operating.
Creighton and Gary Johns had been Directors of Swansea Coachworks, whose operations became incorporated into Ilesbus UK.
