Car dealership in administration

GREATER Manchester car dealership Lythgoe Motors has gone into administration.

But Kevin Coates, Simon Wilson, and Anne O’Keefe of Zolfo Cooper, who have been appointed joint administrators, are confident of finding a buyer for all but one of the company’s four sites.

As of November 2009 the business employed around 160 staff across five sites: at Higher Bridge Street in Bolton (Citröen); Manchester Rd in Bolton (Mazda and Fiat); Oldham (Mazda and Citröen); Rochdale (Mazda and Citröen); and an after-sales site at Wardley.

The Higher Bridge Street franchise was sold by management before the administration.

Administrators said they are already in talks with potential buyers for the remaining sites and are hopeful of achieving a sale “in the near future”.

“A number of interested parties have already submitted offers for the remaining business,” they said.

However, administrators have received no offers for the Wardley after-sales site and its 31 staff have been made redundant.

Kevin Coates, of Zolfo Cooper, said: “The remaining franchises represent a strong investment opportunity for other players in this market to expand their businesses and we are seeing significant interest from a number of parties.

“The Company’s key stakeholders have all been very supportive of our early efforts, which shows a great deal of confidence in these franchises.”