Brothers to revive Carcraft brand online
THE owners of the fast-growing motor finance broker Carfinance247 are reviving the Carcraft name, three months after its collapse.
Manchester-based brothers Reg and Louis Rix have bought the web domain and trade mark of Carcraft from administrators Grant Thornton for an undisclosed sum.
Carcraft, the Rochdale-based used car supermarket chain went into administration in April. It was the UK’s sixth largest second hand dealership chain with an annual turnover of more than
The Rixs plan to relaunch Carcraft as an online used car sales platform, challenging the might of Auto Trader.
Reg Rix said: “The site will be free to advertise on for dealers nationwide and offer consumers an excellent shopping experience with an abundance of choice.
“It will support our Carfinance247 business that, through our partnerships with some of the UK’s leading lenders, gives customers the best rates of finance to match their personal circumstances and credit rating. Our acquisition follows a phenomenal year of growth for Carfinance247 and is part of our advancement strategy.”
Rix added: “Having worked in the motor trade for many years, the Carcraft brand means a lot to us personally as well as a brand we see big potential in going forward.”
A team led by partner Ed Foulkes from the Manchester office of Clarke Willmott LLP advised Carfinance247 on the acquisition.
