Online car retailer
Autoquake has gone into administration and is now up for
sale, it has been confirmed.

Matt Bond and Jason Godefroy, of corporate
recovery firm MCR, have been appointed as administrators as of
March 17, after the company was unable to secure necessary

Bond said: “Autoquake was in investment mode as a business and
required scale to become profitable.

“Despite significant strides in the development of the business
model it was unable to secure the funding required to build it to
critical mass.

“Therefore, the company has gone into administration and the
joint administrators are seeking purchasers for the business.”

Autoquake has not been available for comment
thus far.