Car dealer group at risk

Time 13 years ago

car-dealer-group-at-risk-reportsCAMDEN 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.

Car Dealer will be following this depressing development throughout the week…

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James Baggott's avatar

James is the founder and editor-in-chief of Car Dealer Magazine, and CEO of parent company Baize Group. James has been a motoring journalist for more than 20 years writing about cars and the car industry.

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