8:33 am, April 13, 2026
Used car supermarket Cargiant will close for good on April 24, the company has confirmed.
Bosses have been consulting with employees for more than a month at the business which was once the most profitable used car supermarket in the UK.
Owner Geoffrey Warren has been weighing up his options for the site after the land was valued at nearly £100m.
Now, after weeks of consulting staff, employees have been told the business will close on April 24.
An insider said: ‘It was confirmed today (Friday) that the company will shut – as all other options are not viable – on April 24.’
Cargiant confirmed the news in a statement to Car Dealer Magazine this morning.
In a statement, a spokesperson said: ‘It is with great sadness that we announce the closure of Cargiant’s retail operations.
‘This decision follows an extensive consultation process with our team, during which we carefully explored all potential options to secure a viable future for the business. We would like to sincerely thank our colleagues for their commitment, professionalism, and the constructive way they engaged throughout that process.
‘Unfortunately, despite those efforts, we have concluded that the business is no longer commercially sustainable in its current form. This reflects a combination of factors, including a continued reduction in the supply of used vehicles, primarily driven by the EV mandate, alongside rising operating costs and increasing complexity within the used car market.
‘Cargiant has been a major part of the UK motor industry for more than 50 years, pioneering the used car supermarket model and growing to become the UK’s largest independent car dealership.
‘Over that time, we have sold more than one million vehicles and supported thousands of people in building careers in the motor industry and beyond.
‘We are immensely proud of what has been achieved over that period, and we would like to express our sincere thanks to all our staff, past and present, as well as our customers, partners, and suppliers, for their loyalty and support over many years.
‘The business will now move into a managed wind-down, with remaining retail stock being sold over the coming weeks.
‘Our after-sales operation, including an office support team, will continue beyond the closure of retail activity to support customers and ensure that existing commitments are properly fulfilled.
‘While this marks the end of an era for Cargiant, it also represents a new beginning for many of our people, whose experience, resilience, and professionalism will continue to create opportunities well into the future.’
The firm is based on a sprawling near-50 acre site located at Park Royal/Old Oak Common in West London.
It is directly beside a planned HS2 interchange which will connect HS2, the Elizabeth Line, overland and other transport links.
The value of the land has yo-yoed in the company accounts over previous years but in its latest set a £98.8m value had been placed on the site.
Cargiant directors have been trying to find a buyer for the business and the land, but have now told staff that no suitable offers have come forward to keep the business running as a going concern.
The firm once had more than 2,000 cars for sale at the dealership and was one of the busiest used car supermarkets in the UK.
Last year Cargiant chalked up a £121.2m pre-tax profit thanks to the revaluation of the land. That pushed up pre-tax profits for the used car dealer from a pre-tax loss in 2023 of £22.4m.
Cargiant’s majority shareholder Warren was 70th on the Sunday Times Rich List last year with a net worth of more than £2.5bn.
The dealership was the 22nd most profitable car dealership in the UK according to the most recent Car Dealer Top 100 which looks at EBITDA profit.
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