Waters Autoplanet, the 22 site dealer group based in the south of England which went into administration in October, is in discussions with several parties to buy parts of the business.
A spokesman for administrators Zolfo Cooper, told AM: “We are continuing to receive expressions of interest for various parts of the business. Negotiations are ongoing.”
The dealer group went under due to the current economic climate and after a failed attempt to complete a sale this year.
The group represents Kia, Renault, Fiat, Mazda, Peugeot and Seat and also has used car supermarkets as well as a HiQ fast fit operation. The group’s sites are based in Barnet, Chingford, Harpenden, Letchworth, Maidstone, Southampton, St Albans and Tunbridge Wells.
The group closed two of its four Peugeot sites in 2008, but had been expanding recently with dealer openings in Tunbridge Wells with Kia and Seat in July 2010
Irishboy4 - 17/11/2011 04:15
The chingford site will the most difficult to dispose of, it is a white elephant. The Maistone delaership however is adjacent to several other franchised businesses and has been very profitable over the years, as was Southampton before it was franchised.