Car supermarkets close after Lloyds pulls the plug

TWO car sales operations in the West Midlands close for the last time today with scores of people set to lose their jobs.

The Car Select arm of Lex Autolease has outlets in Oldbury and Coventry – the latter having only opened two years ago. Both operatins were said to be highly profitable.

The closure was prompted by a decision by Lloyds Bank to shift emphasis on its car retail business.

Staff at both sites were stunned by the surprise closure announcement last month and are clinging to the hope that some may find work with British Car Auctions which is set to take over the Car Select sites.

Lloyds said 29 would transfer to BCA through a TUPE agreement. However, the bulk of the remaining 100 face reducdancy.

Lex Autolease was created in 2009 from the merger of HBOS-owned Lex Vehicle Leasing with Lloyds TSB Autolease. It is the UK’s largest vehicle leasing business with a fleet of about 270,000 vehicles.

The leasing aspect of the business is unaffected and the bank has said the closure will not impact on customers who brought cars from the company.

The Car Select website was still operating today but there were no cars on display.

Instead, visitors were shown this message:

“The Car Select website will be closing on 20 May 2016. Our retail sites at both Coventry and Oldbury will also be closing on that day.

“All enquiries should be directed to usedcars@lexautolease.co.uk”