The firm, which operates Seat, Skoda and Suzuki dealerships in the south of England, hit trouble last week, according to administrators.
Car Dealer spoke to the company handling the administration during negotiations, so details are still sketchy but it was confirmed the business is in administration on Thursday, January 24 and that there have been redundancies.
A spokesman for administrators at Smith & Williamson said: ‘Our sympathies are very much with the customers and staff of Whitequay at this deeply upsetting time.
‘We are working hard to sell all three sites at Southampton, Reading and Newbury – and there is strong interest therein. We are doing our best in a very difficult situation but there is insufficient money to be able to keep the sites open and therefore all three sites have, very regrettably, effectively been forced to close. There has been no option but to make staff redundant at Southampton and Reading.’
According to Newburytoday.co.uk, cars from the dealership’s forecourt in Faraday Road, Newbury have already been removed. Transporters arrived yesterday (Monday) morning to remove the business’s stock.
A Suzuki GB spokesperson also confirmed the administration.
More news will be issued from the administrators soon – Car Dealer will keep you posted.