Monday, April 30, 2007
Pendragon identifies 26 marginal outlets at risk
PENDRAGON is to cease operating with 26 new car franchises in the near future.
Having already sold 8 of its franchised dealerships since the OFT cleared the Vardy take-over in October, it has also terminated 8 new car franchises.
The 26 dealerships at risk have not been named but they are described as being too marginal to continue trading in the current market or where the retail group can reconfigure its assets in a particular geographic area in order to accelerate its debt reduction programme.
DATED: 30.04.07
FEED: AW
Having already sold 8 of its franchised dealerships since the OFT cleared the Vardy take-over in October, it has also terminated 8 new car franchises.
The 26 dealerships at risk have not been named but they are described as being too marginal to continue trading in the current market or where the retail group can reconfigure its assets in a particular geographic area in order to accelerate its debt reduction programme.
DATED: 30.04.07
FEED: AW
