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Jackson’s to be sold as going concern

Jackson’s of Basingstoke has gone into administration after struggling to overcome financial difficulties triggered by relocation, establishing a new franchise and an unsustainable pension scheme.

Baker Tilly has been appointed to handle the administration, with Matthew Wild and Bruce Mackay acting as advisors for the firm.

The dealer group, which operates a Škoda franchise, trades as both Jackson’s of Basingstoke and Motorland, with facilities at Armstrong Road and Grove Road in Basingstoke.

Its financial difficulties began when it was forced to sell its Lower Wote Street Ford dealership under a compulsory purchase order from the local council seven years ago.

Wild says: “Jackson’s then took on the Škoda franchise, but this hasn’t built profits for the company. Furthermore, it was operating a defined benefit pension scheme, which, as for many other firms, has resulted in a deficit for Jackson’s.”

Since going into administration there have been six redundancies and 70 members of staff have left Jackson’s. However, the business is continuing to trade with a view to a sale on a going concern basis.

As part of the process Baker Tilly will be introducing a number of promotions to increase the level of activity at each of the sites.

“Our team and the company’s staff will be working day and night in our attempts to carry on the businesses and find suitable purchasers to take the businesses forward,” says Wild.

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