Corporate recovery experts from Begbies Traynor are working with Peugeot franchisee Southgate Group to create a rescue plan for the business.
The south coast group is not in administration, however it closed two Mitsubishi dealerships and a joint Subaru and Peugeot site last week, leaving it with Peugeot sites in Southampton, Winchester and Andover which continue to trade.
Industry speculation is that the business is being prepared for a pre-pack administration sale, reports the Andover Advertiser local newspaper.
http://www.andoveradvertiser.co.uk/business/9348360.Rescue_experts_in_bid_to_save_car_dealership_jobs/