Dealer takeover saves jobs
DOZENS of jobs at one of east London s largest car companies have been saved after buyers were found for substantial parts of the failing business. Vauxhall franchise Crown Motors, which ran major sites in Dagenham and Romford, went into administration th
DOZENS of jobs at one of east London's largest car companies have been saved after buyers were found for substantial parts of the failing business.
Vauxhall franchise Crown Motors, which ran major sites in Dagenham and Romford, went into administration this year.
The dealership ceased trading on August 26 and 70 people were laid off.
But now as many as 35 of them have been offered their jobs back as administrators Smith & Williamson secured new owners for Crown Motors assets.
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Tony LeVoi, a neighbouring dealer based at Lakeside Retail Park, Thurrock, has bought car, parts and equipment while Bristol Street, a Vauxhall and Chevrolet franchisee based at Ilford, has also snapped up new motors.
Those formerly employed at the Dagenham and Romford sites have now been offered new jobs at these dealerships.
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Romford's site has been taken over by Tony LeVoi, who plan to establish a new business there in the future.
However negotiations are still on going to find a buyer for the site in Rainham Road South, Dagenham.
It has been a difficult year for the car sales industry with many car giants publishing record losses as the recession hits Britain.
There has been a lack of consumer demand as banks become more and more reluctant to offer credit to potential buyers.
Greg Palfrey, of Smith & Williamson, said: "As regards Dagenham, negotiations continue but it is too early to say what the outcome will be.
"Our thoughts are very much with the staff who worked there. We are doing all we can."
Mr Palfrey added: "The directors of Crown Motors had done their best in a difficult trading environment but ultimately the commercial pressures were too great and they requested the appointment of administrators to protect the creditors' interests."
Last month Crown Motors also sold its Ilford dealership, which specialised in Vauxhall and Chevrolet cars.