9:27 am, October 14, 2024
Rybrook suffered a £6.65m loss in its last full year prior to being snapped by Sytner-owner Penske Automotive Group.
Latest accounts for Rybrook Automotive Limited, filed with Companies House, show the premium car dealer made a substantial loss in the year ended December 31, 2023.
The pre-tax loss came to £6.65m for 2023 – down significantly on the £9.63m profit the company made the year before.
No turnover was given in the accounts, which were lightweight and short of detail.
The accounts will be the last for Rybrook Automotive after its parent company was acquired by the Penske-owned Sytner Group earlier this year.
The deal was inked in January and saw Rybrook’s 15-strong dealership portfolio – which includes brands such as BMW, Land Rover and Porsche – transfer to Penske Automotive Group.
Speaking at the time, Sytner Group CEO Darren Edwards said Rybrook would be absorbed within Penske and would not be run as a separate business.
He said: ‘We are pleased to expand our brand footprint and increase our scale.
‘The Rybrook dealerships represent exceptional brands with a strong commitment to providing outstanding customer service.
‘We look forward to continuing this legacy and welcome the Rybrook associates to our team.’
At the beginning of October, Edwards announced he would retire from Sytner and the motor trade by the end of the year. He has been working in the motor industry for the past 40 years.
