Tuesday, February 03, 2009
Car Dealer Group at risk
CAMDEN Group Services, a fleet provider that also runs 7 new car dealerships, risks collapse this week.
The Times reports that the Group, could go into administration in the next few days – putting 800 jobs at risk.
Camden supplies cars to most of the major vehicle rental companies, including Avis, Europcar and Hertz.
However, it also runs 7 new car dealerships, in Croyden, Luton and Northamptonshire. These franchises sell Fords, Nissans, Renaults and Vauxhalls.
In 2007, it made a profit of £4.6 million. However, it was also bought out in 2007, using a large proportion of finance. The credit crunch has meant it is very hard to service this debt.
We will be following this depressing development throughout the week…
DATED: 03.02.09
FEED: CDM
The Times reports that the Group, could go into administration in the next few days – putting 800 jobs at risk.
Camden supplies cars to most of the major vehicle rental companies, including Avis, Europcar and Hertz.
However, it also runs 7 new car dealerships, in Croyden, Luton and Northamptonshire. These franchises sell Fords, Nissans, Renaults and Vauxhalls.
In 2007, it made a profit of £4.6 million. However, it was also bought out in 2007, using a large proportion of finance. The credit crunch has meant it is very hard to service this debt.
We will be following this depressing development throughout the week…
DATED: 03.02.09
FEED: CDM
