All jobs lost as car retailer falls into administration

A Derby-based new and used car retailer has gone under, with 12 jobs lost.

leJoanne Hammond and Kris Wigfield of Begbies Traynor were appointed as joint administrators to new and used vehicle retailer Holt Cars on 2nd February 2022.

Based on London Road in Alvaston, Derby, the company experienced a downturn in trade as a result of Covid, together with the withdrawal of UK Mitsubishi sales which was announced in July 2020, resulting in a “significantly lower” number of new cars available for sale than forecast. The business employed 12 people and all staff have been made redundant.

The joint administrators say they are working to realise the company’s assets.

The premises at 998 London Road is being marketed for sale through Eddisons