Financier moves on luxury car dealer
Wellington-based luxury car dealership O'Reilly's Garage has entered receivership following an abrupt closure. Financiers are currently investigating the situation, while the owner's whereabouts remain unknown.
Why it matters
The sudden collapse of a high-end business leaves creditors and customers in financial uncertainty and highlights risks in the luxury retail sector.
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O'Reilly's Garage in Wellington's Petone sold luxury cars.
Wellington luxury car dealership O’Reilly’s Garage which abruptly shut up shop earlier this month has been put into receivership.
Avanti Finance appointed Iain Shephard and Jessica Kellow of BDO as receivers on October 21.
It did so based on a July 2022 general security deed the company granted to it over all present and after acquired personal property.
Avanti also holds security over dozens of O’Reilly’s Garage cars, including a 2026 Porsche Macan, a 2025 Volkswagen Amarok, and a 2022 Audi SQ7, PPSR records show.
The financier has placed a caveat over business owner Simon O’Reilly’s $2.7m Khandallah home.
“We are aware of the situation involving O’Reilly’s Garage and are disappointed by what has occurred,” Avanti said in a statement just prior to the receivership.
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