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Lookers terminates MG Rover franchises

Lookers dealer group has taken a “strategic decision” to terminate its dealer franchise contract with MG Rover.

In a statement to the Stock Exchange made before any news release was issued, Lookers is said to have advised shareholders it had given MG Rover two years’ notice of termination, in accordance with its franchise agreement, in respect of its four MG Rover franchises.

Lookers announced on Monday that it had acquired the used car supermarket Bristol Trade Centre, which sells around 4,000 used cars a year from a four-acre site and which will add around £35m a year to Lookers' turnover.

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