9:49 am, March 20, 2018
A CAR dealership group in north Wales has gone into administration.
Almost 70 people have so far lost their jobs at Slaters of Abergele Ltd and its sister companies Slaters of Ruthin Ltd and Slaters North Wales Car Centre Ltd.
The three firms operate from sites in Abergele and Mochdre. The Abergele site, pictured, is the principal trading site from which the company sells new and used Nissan and Citroen cars, while the site in Mochdre is used primarily for servicing and repairs. The family-run business employed 74 people.
Paul Dumbell, director at KPMG and joint administrator, said: ‘In recent months, the group has experienced severe cash-flow pressure driven by continued trading losses, a downturn in new car sales and restrictions on used car finance.
‘This has resulted in facility limits being reached and missed payments to the company’s creditors.
‘With no prospect of an upturn in trading, it is our intention to commence a managed wind-down of the business. Regrettably, we have had to make 68 members of staff redundant, with the remaining staff being retained in the short term to assist us with the closure of the sites.’
The group has another entity, Slaters North Wales Limited, which operates from sites in Colwyn Bay, Caernarfon and Anglesey. This company is not in administration.
Picture: Google Maps
MORE: European car industry warns of ‘disastrous’ Brexit implicatons
MORE: Make sure you’re up-to-date with GDPR at CDX
MORE: Used car values on the rise in defiance of market instability
On WorkshopMagazine.co.uk: Technicians praise latest Repxpert training event
