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Hope remains for Coredale after receivers called in

Receivers are still trying to find a buyer for the remainder of Norfolk-based dealer group Coredale after its Fakenham dealership closed last Friday (March 3).

The company is still operating a Proton showroom at Norwich City FC’s Carrow Road stadium – the Malaysian car manufacturer sponsors the Coca-Cola Championship side – and a Proton and Perodua dealership in Cromer.

The company lost its Nissan franchise after nearly 20 years on February 1, the day the receivers were called in.

Joint receiver Stephen Oldfield, of PricewaterhouseCoopers, says there has been some interest in the Coredale operations at Cromer and Norwich but none in the Fakenham business, which is why the decision to close it – with the immediate loss of eight jobs – was taken.

Some 28 people across all the Coredale garages lost their jobs when the receivers were called in after “significant losses”.

At Cromer and Norwich, 21 people are still employed, and negotiations are continuing with potential buyers, says Oldfield.

The loss of the Nissan franchise is one of the reasons a buyer could not be found for the Fakenham site, which underwent a £200,000 revamp in 2004, he adds.

Coredale was founded in 1973 by John Coleman and Charles Gray at Mundesley where it ran a Volvo dealership and expanded to Sheringham a year later. It took over the former Fakenham Car Centre in 1984 and moved to its main Cromer showroom in 1994, creating 20 jobs.

The company ran a dual franchise of Nissan and Citroën, but last year Citroën made way for Proton and Perodua.

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