After months of delays and a suspension from the Stock Exchange, Lookers has issued its financial results for 2019 which include a downward adjustment of £25.5m in profitability. The troubled franchised dealer group dropped to a £45.5 million loss before tax in the 12 months to 31 December 2019 down from a profit of £41.9m in 2018. […]

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Franchised retail group Lookers is set to become the next retailer to open a Polestar store. The retailer is currently advertising for staff to work in its almost completed Manchester store in the city’s Trafford Centre. The news comes in the same week Lookers announced it plans to recruit 180 new apprentices across the group and […]

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Lookers has posted a positive trading update but has further delayed its full-year 2019 and H1 2020 results until November. According to Sky News, banks backing Lookers have appointed financial advisors to help with talks about the group’s £250 million revolving credit facility. Lookers’ trading update revealed they saw a 13.6% lift in new and […]

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Michael Scott, Franchise Director for Lookers Renault has said the £3m investment rebuilding the Stockport dealership is a positive sign. This is despite the current challenging economic landscape. Scott praised the local team for its resilience during the rebuild effort. The Stockport franchise dealership reopened following a fire which devastated the site last September. During […]

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An investigation into a potential fraud at Lookers has found a “cumulative total of approximately £19 million of non-cash adjustments” due to overstatements in profitability spanning several years, including the initial £4m reported at the start of this year. Lookers has revealed the figure from a draft report by Grant Thornton. This comes two days ahead of […]

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Pendragon, has confirmed it approached Lookers about a merger recently, according to a report by Sky News. Lookers rejected the approach from the leading franchised retail group because of the ongoing FCA investigation and the coronavirus crisis. The financial statement by Pendragon said: “The company confirms that it held outline discussions with Lookers suggesting they might […]

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Lookers has relocated its Camberley Audi centre to a new £10 million dealership in Farnborough. The new 4.75-acre site brings sales and aftersales together on one site. The rebranded Farnborough Audi dealership boasts a 20-car showroom and new 30-bay workshop. The previous, separately located, workshop had 21 bays. Head of business Michael Wrigley expects the service […]

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Lookers has begun work on a new Jaguar Land Rover franchised dealership which is due to open later this year. The new site at Aston Clinton will mean closing the nearby Lookers JLR sites in Amersham and Chipperfield. The staff from both sites will be transferred to the new development. At 16,193 sq ft it will […]

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Lookers will make a further investment in its dealership network by purchasing Jennings Motor Group. Jennings, the North East based franchised dealer group, is a respected and well-established name across the region. Whilst Ford is their key brand partner, they also represent Kia, Seat and Mazda. The acquisition reinforces Lookers’ position as one of the […]

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Lookers plans to acquire more dealerships following record financial results for 2016. Revenue for 2016 increased 17% to £4.3 billion, up from £3.65bn in 2015. Andy Bruce, Chief Executive, says he will now concentrate on growth through acquisitions in the year ahead. He commented: “Generating shareholder value through acquisitions is one of the things we do best. […]

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