F&I Management & Training

Vertu Motors has acquired a Vauxhall dealership in Northampton from W Grose for £2 million.

The dealer group said the estimated consideration paid for the site predominantly represented the vehicle and parts inventory.

The current dealership premises have been acquired on a short term lease from W Grose Limited. The business will be relocated to a new dealership which will be built on freehold land acquired in Northampton. The total investment in this new dealership will be £4.5 million and it is estimated that these new premises will open late in 2012.

The turnover of the Vauxhall business in the year to December 31, 2010 was £20 million.

The latest acquisition brings Vertu’s total Vauxhall representation in the UK to 11. The business will complement the group’s existing Northampton Peugeot operation which Vertu said will provide the opportunity for “operational synergies”.

Robert Forrester, Vertu chief executive, said: “We are delighted to expand our operations in Northampton. This is our 11th Vauxhall dealership and reflects the growing scale of our Vauxhall operations.”

Vertu now operates 83 outlets comprising 80 franchised and three non-franchised sales outlets.

DATED: 11.01.12

FEED: AM

Dealer group Squire Furneaux has placed two of its showrooms into administration which both held the Saab franchise.

The companies are made up of a Saab automotive dealership in Welwyn Garden City and a Saab automotive dealership and Vauxhall service centre in Dunstable. The companies employ approximately 45 people. Squire Furneux has six other dealerships in the group and they are not affected.

Squire Furneaux has sites representing Vauxhall and Volvo across the Home Counties with sites in Guildford, Hersham, High Wycombe, Maidenhead, Leatherhead and Slough.

Administrators Zolfo Cooper said the administration of Saab GB in November 2011 followed by Saab AB filing for Bankruptcy in December 2011, as well as the current economic climate, has left the companies with "no viable prospect of continued trading".

The majority of staff have been made redundant with immediate effect, while a handful will remain to help wind up the affairs of the companies.

The Administrators will now enter discussions with any interested parties to secure a sale of the companies' assets.

Kevin Coates, at Zolfo Cooper said: “The companies are part of an established business, supported by a team of high quality individuals.

"However, given the ongoing difficulties faced by Saab and Saab GB’s recent administration, we have been left with little alternative but to cease trading the business. We will now enter discussions with interested parties and endeavour to maximise the companies' assets for creditors."

DATED: 11.01.12

FEED: AM

Johnsons Cars has bought two dealerships from Concept Vehicles for an undisclosed sum after the business went into administration just before Christmas.

Concept Vehicles operated two Hyundai dealerships in Coventry and Sutton Coldfied. The group also had a Saab dealership in Cardiff and employed 52 people across the three site group.

Administrators KPMG have confirmed 38 jobs have been transferred with the deal and the business and assets of just the Coventry and Sutton Coldfield sites have been sold to Johnsons.

Johnsons has 15 sites across the midlands and north west and represents Honda, Toyota, Lexus, Volkswagen, Volvo and Mazda.

DATED: 11.01.12

FEED: AM

Renault UK has appointed Darren Payne as its new sales director.

Payne was formerly director for fleet and commercial vehicle operations at Renault UK, but will now head up a sales department which combines the previously separate commercial operations (sales network and franchising operations) and fleet and commercial vehicle operations departments.

Renault said the new role ensures a "consistent strategy" across the French brand’s different sales channels.

Payne joined Renault UK’s board of directors in October 2009 and has worked at reasserting the brand’s position in both the fleet and LCV sectors.

DATED: 11.01.12

FEED: AM