FAMILY owned dealer group Southgate will be going into administration today, Car Dealer can reveal.
The firm – which operates Peugeot, Mitsubishi and Subaru dealerships across Hampshire and Dorset – will close its doors today making 111 employees redundant, says administrators.
Car Dealer broke the story on November 3, and has followed the dealer group’s fortunes ever since.
The first dealerships to close its doors were the company’s Mitsubishi franchises in Andover, Romsey, Poole and Bridport, followed by a joint Peugeot and Subaru site in Blandford, Dorset.
The firm’s Peugeot franchises in Southampton, Winchester and Andover remained open while a buyer was found – but administrators confirmed to us today their hopes of a buy-out have failed.
‘I can confirm Southagte Group will go into administration today,’ Julie Palmer of administrators Begbies Traynor told us, ‘which will mean 111 employees will sadly be made redundant.
‘There are some interested parties to purchase the buisness, but they seem to be waiting for the administration to go through.’