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Manheim ends takeover talks with troubled Premier

Premier Motor Auctions is seeking a buyer to rescue the business from financial difficulties.

The Yorkshire auction house had been in talks with Manheim Auctions in recent weeks, however those negotiations ended last week with a sale not being agreed.

A Manheim spokesman said he understood that discussions continue between Premier and other potential buyers.

He said Manheim felt it would be a challenge for any organisation to acquire and integrate a business in the current climate, particularly one in financial difficulty.

The failure of Premier was "sad to see" but a reflection if the market's very challenging times," he added. 

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