Jardine Motors Group is severing its links with Equinox Business Partners, established in 2000 as a joint venture with a management consultancy and later wholly-owned by the group.
Equinox provided finance, accounting and administration for the group's dealerships, functions which will now be provided in-house by Jardine at regional centres. The transition will begin in February. Jardine is looking for a buyer for Equinox.
At a meeting today Jardine's finance director Sam Houston told Equinox's 200 employees Jardine was streamlining its dealer network to concentrate on 'low volume specialist franchises'. Equinox was also unlikely to break even in the foreseeable future. (November 30, 2001)