Inchcape’s UK and European retail operations saw operating profits jump more than 200% to £82.1 million in 2021. Inchcape also announced a global roll-out for its Bravoauto used car operation, recently launched in the UK. In 2020 Inchcape reported an operating profit of £24.6m on a turnover of £3.02bn for its UK and European retail business. Inchcape […]
Read More →Mike Ashley’s Frasers Group is planning to sell 16 retail parks for upwards of £320m to cash in on booming investor demand. Retail parks are seen to be less at risk than high streets to the rise of e-commerce; larger stores can also be used as distribution centres and click-and-collect hubs.
Read More →Toyota has issued termination notices for its six franchises held by Arnold Clark. It’s expected that Vertu’s Macklin Motors will pick up the manufacturer in Scotland. The franchised dealerships concerned in Aberdeen, Ayr, Paisley, Stirling and two in Glasgow have not been sold to another group. It is understood staff at the dealerships have been […]
Read More →Read Motor Group has opened an eighth dealership as their turnover accelerates beyond the £100 million milestone. The Grimsby-based franchised dealer group opened the new 12-car showroom on Altyre Way. In July 2021 Read opened their first Stellantis new car franchises, also on Altyre Way, with the acquisition of the Beechdale Motor Group. Adding MG into the […]
Read More →BCA-owner Constellation has bought a 19.9% share in the franchised dealer group Lookers. The majority of shares were purchased from Tony Bramall, who stepped down as a non-executive director at Lookers in December 2020. The 78 million share purchase was carried out at 102p a share. Shares in Lookers ended last week at 88.6p, up […]
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