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Ford dealer collapses

North East Ford retailer Holiways has gone into administration.

Administrator KPMG was appointed by Ford Credit Europe and expects to sell the family-owned company's assets and wind down its dealership Bishop Auckland and dealership and bodyshop in Newton Aycliffe.

Holiways recently sold two other Ford dealerships in Durham and Hartlepool to Vertu Motors in an attempt to shore up the business.

KPMG said the significant losses the company made during the summer left it unable to continue to trade, despite the recent disposals.

A week ago Holiways managing director Matthew Hardy denied to local journalists that the company was heading for administration.



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