F&I Management & Training

Two Toyota dealerships in south-east England with a combined turnover of £20 million and operated by a company trading as RCS 900 since June 2005 went into administration on October 21. Newland Motor Company in Slough and Brown’s High Wycombe had been trading at a loss for some time, said administrator Nigel Ruddock at Grant Thornton.

“There are no potential acquirers for these businesses, so our strategy is to wind their operations down within a week or so. Unfortunately this has meant we have had to make most of the 50 staff redundant.” 

Immediately after the business collapsed, Toyota moved in to remove stock, and the premises were then closed up.

A Toyota GB spokesman said: “We have been contacting customers to help them with sales and servicing requirements at other retail centres. 

“Any agreements signed by customers who paid deposits to either of the dealerships will be honoured by Toyota.”

The manufacturer would not comment about the reason for the dealerships’ failure. Unconfirmed reports suggest both were sponsored by Toyota, which the manufacturer declined to confirm or deny.

Replacement dealerships will not be appointed for some time. “We are unlikely to make a decision before the new year,” said the spokesman. “We are looking at various open points and the area as a whole.”

DATED: 14.11.08

FEED: AM