There has been a lot of interest in the potential purchase of a long-established motors business that’s gone into liquidation.

Liquidator Paul Shimmin said it was ’far too early’ to be in a position to negotiate a sale of Raymotors - but he is hopeful that the winding-up will not result in a fire-sale or break-up of the company.

Ramsey-based Raymotors closed last month, with the loss of 28 jobs, after the high court ruled that it should be wound-up.

The court heard there had been deadlock in its management caused by the irretrievable breakdown in the relationship between the two directors, brother and sister David Casement and Christine Radcliffe.

Mr Shimmin was appointed provisional liquidator.

He told the Examiner: ’It’s still far too early in the liquidation for me to be in a position to negotiate to a sale. We have had a lot of expressions of interest.

’We are not looking at a fire sale. We’ve had a lot of interest, well over a dozen, and there is serious interest.’

Mr Shimmin explained that the court order directed that a state of affairs be provided within 14 days. Once that is obtained from the directors, he will call a creditors’ meeting ’as soon as practicable’, which would be three or four weeks from the date of notice.

He said his understanding was that there is not a vast number of creditors, as there had been a lot of understanding about the company’s predicament. ’It’s not like the liquidation came out of the blue,’ he said.

Raymotors Ltd, which was incorporated as a family business in 1951, employed some 28 people and focused on car sales, service and spares. It also owned the Rapid Auto tyre, a petrol station and a number of properties in the town, with total assets of at least £2.2m in value.

But the court heard that the falling-out between the two directors, dating back to at least 2014, had a negative effect on the firm. Tax returns and financial accounts were outstanding, and Raymotors had failed VW and Seat audits.