Following an immediate review of the business the two operations have ceased trading with immediate effect. This has resulted in the redundancies of 59 employees.
Haxby’s is a family run business dealing in new and used car sales, trading from two sites in Plymouth and Devon. The dealerships include franchises from Daihatsu, Kia, Subaru, Isuzu, Fiat and Daewoo.
David Crawshaw, KPMG administrator, said: “The business had suffered from a decline in sales and cash flow difficulties. It is with regret that we cease trading and announce these redundancies but there in no alternative.”
The administrators are seeking buyers for the assets of the company including two leasehold and one freehold property.