BORDER Cars, a dealership group serving Cumbria and south-west Scotland, is closing down with the potential loss of hundreds of jobs.
It’s the end of the road for the business after more than 42 years of trading and comes after Car Dealer reported earlier this week that the company was in financial difficulty.
In a statement on its website today, Border Cars says it is holding a closing down sale and it is understood some members of staff have already received redundancy notices.
The statement says: ‘In regards to recent speculation surrounding the company, Border Cars maintains an ongoing business relationship with their funders and are currently in talks with two or three potential buyers in order to try and save as many jobs as possible.’
Mike Fusco, the owner of Border Cars, said: ‘In recent years, despite the challenging market conditions, both management and staff have worked tirelessly to maintain a profitable business.
‘However, with ongoing rising costs, and the tough retail climate for the industry, it is with the greatest of reluctance that we are unable to continue trading.
‘We would like to thank all those employees past and present, who made the business what it was.
‘We would also like to extend our warm appreciation to our many customers who have supported us so loyally. To the present group of staff we extend our utmost gratitude.’
The closing down sale is now on at all of the company’s dealerships operating throughout Dumfries and Galloway, Cumbria and Ayrshire.