1:56 pm, May 21, 2020
Dealer group Progress Suzuki’s parent company is understood to have gone into receivership.
The Kettering-based family-run group has Suzuki dealerships in Kettering and Milton Keynes, although along with all other UK car showrooms both were temporarily closed at the outset of the coronavirus crisis.
The latest available accounts for parent company Progress Bedford (Holdings) Ltd – for the period from December 26, 2017 to February 28, 2019 and filed at Companies House on February 20 this year – reported a continuing gross profit in 2019 of £1.74m on turnover of £21m.
The group strategic report also said that Progress was continuing to seek to expand the business, having offloaded its four Skoda dealerships to Marshall Motor Group in early 2019.
Car Dealer has tried speaking to Progress but got no reply from either Suzuki dealership. It has also contacted Avison Young, who are understood to be the receivers, and Suzuki GB for comments.
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