Whitequay Group, which has three sites in Southampton, Reading and Newbury has gone into administration.
The £20 million turnover group has franchises for Kia, Chrysler/Jeep, Seat, Skoda, Suzuki. It also holds the authorised repairer franchise for Saab, Cadillac, Corvette, Hummer and used to have the Saab new car franchise.
Administrators Smith and Williamson have been appointed to help sell the business.
The administrators told Newburytoday: “We are doing our best in a very difficult situation but there is insufficient money to be able to keep the sites open and therefore all three sites have, very regrettably, effectively been forced to close.
“There has been no option but to make staff redundant at Southampton and Reading.” Smith and Williamson have not confirmed whether there will be job losses in Newbury.