One of the biggest dealerships in Wales has safeguarded more than 100 jobs after taking on three sites which were on the verge of administration.
The Sinclair Group has taken over two Volkswagen car dealerships in Cardiff and Newport, and a Volkswagen van centre in Cardiff which were formerly owned by David Jones Garages.
Sinclair group marketing manager Richard Seaward said there would be no job losses, although a review of the sites could see people relocated.
Seaward said: “There’s a big benefit here. People working on these sites would not have been paid in October, but they have now.
“It is not an ideal time , but it is a time to get a good deal and we have been supported well by Volkswagen and Barclays.
“I think VW UK was definitely in a position to put a favourable deal on the table and we were able to purchase the stock at the right price at the right time.”
He said the Sinclair Group took on the dealerships because David Jones Garages was having to outsource services such as a call centre and IT. David Jones also did not have dedicated market support, which Sinclair Group can do in-house.
Seaward added: “The feeling is we have bought the right stock at the right price. “There had to be a good enough deal on the table.
“There is still a market out there it is just a matter of pricing the stock keenly.”
A spokeswoman for VW UK said it had been talking to David Jones about the business for about a year.
She said: “In discussing options it was significant that Sinclair taking over the sites would be a positive move and we fully support this.
“This ensures customers are not affected by the changes and we will continue to have a successful business in the area.”