Friday, June 13, 2008
Bridges Group goes under, blaming tough trading conditions
Renault and Nissan dealer group Bridges has ceased trading, with the loss of 116 jobs.
Administrators from KPMG have closed its four dealerships in Newbury, Cirencester and Reading.
The remainder of its original 139 staff are helping administrators tie up loose ends.
KPMG's Richard Hill blamed “tough trading conditions” for the closures.
“Unfortunately tough trading conditions in the automotive retail sector have resulted in the business encountering problems and the decision has been taken to cease operations in all four locations,” he said.
Hill is now seeking to dispose of the company's remaining assets.
DATED: 13.06.08
FEED: AM
Administrators from KPMG have closed its four dealerships in Newbury, Cirencester and Reading.
The remainder of its original 139 staff are helping administrators tie up loose ends.
KPMG's Richard Hill blamed “tough trading conditions” for the closures.
“Unfortunately tough trading conditions in the automotive retail sector have resulted in the business encountering problems and the decision has been taken to cease operations in all four locations,” he said.
Hill is now seeking to dispose of the company's remaining assets.
DATED: 13.06.08
FEED: AM
