Major car dealership closes down FIVE showrooms as business folds after 22 years – leaving customers gutted

A MAJOR dealership has been forced to adjacent down 5 showrooms aft the concern fell into administration.

Marsh Holdings Limited, based successful Exeter, Devon, has been forced to unopen up store - conscionable months aft it sold its Kia franchise.

Aside from Kia, the steadfast held franchises for the likes of Harley Davidson successful Plymouth and Southampton, Triumph successful Plymouth and Yamaha successful Exeter.

Indeed, the radical had lone opened its Exeter Yamaha store astatine the extremity of 2023.

A announcement connected the company’s utilized car website said: “Sadly, we are devastated to denote that we person had to cease trading with contiguous effect.”

The steadfast blamed their caller issues connected a “period of uncertainty successful the economy” on with continued mediocre weather, excessive proviso and banal from their shaper partners, arsenic good arsenic caller fund announcements.

They added: “We privation to guarantee you that each imaginable effort was made to effort and debar this decision, but making it present is the lone mode we tin minimise the interaction connected each those affected.

“We recognise determination volition beryllium those of you that person concerns and matters outstanding and we privation to guarantee you we are doing everything we perchance tin to resoluteness these.

“We kindly inquire that you are diligent whilst we enactment to guarantee these are dealt with quickly.”

The connection concludes by thanking customers for supporting the concern for the past 22 years.

According to Car Dealer Magazine, accounts for the group, which were filed astatine the extremity of September, amusement it made an operating nonaccomplishment of £852,399 past year.

Taking into relationship the £1.2m 2nd outgo for the merchantability of Kia Taunton, it clocked up a nett of conscionable £27,526 for the year.

Exeter-based administrators astatine Westcotts Business Recovery person been appointed.

Company Rescue claims the steadfast employed 62 radical astatine its showrooms and had a turnover of £30m.

Last week, we reported that customers were near up successful arms after a fashionable car dealership abruptly closed its doors temporarily.

However, The Car Group successful Bury, Greater Manchester has assured punters that the concern is "not going anywhere".

Raza Habib, manager astatine The Car Group, clarified: “We are not going bust, I privation to marque that precise clear.

"We person not gone into liquidation.

“We are moving hard to get things backmost up and moving again soon.”

Elsewhere, a Ford Escort precocious sold for implicit £200,000 astatine a classical car auction - with conscionable implicit 2,000 miles connected the clock.

The retro centrifugal was 1 of the standout income astatine the weekend's Classic Motor Show astatine the NEC, Birmingham, which saw implicit 100 cars alteration hands for eye-watering sums of money.