AM Online

Former Slaters of Abergele Citroen and Nissan showroom up for sale

Slaters of Abergele's Abergele dealership site

Slaters of Abergele’s former Citroen and Nissan showroom has been put up for sale six months after the business went into administration.

The dealership closed suddenly in March after 100 years of trading, ultimately resulting in the loss of 74 jobs, according to the Wrexham Daily Post.

Now KPMG is offering the former dealership site for sale for £1 million.

The Daily Post reported that a report published by KPMG had previously revealed that Slaters’ debt stood at almost £3m when it went out of business.

In March AM reported that a “pension deficit” had led to the sites’ closure.

The group’s other entity, Slaters North Wales Limited, which operates from sites in Colwyn Bay, Caernarfon and Anglesey, did not fall into administration and remains in business.

Speaking at the time, joint administrator Paul Dumbell, said: “In recent months, the Group has experienced severe cash flow pressure driven by continued trading losses, a downturn in new car sales and restrictions on used car finance. This has resulted in facility limits being reached and missed payments to the company’s creditors.

“With no prospect of an upturn in trading, it is our intention to commence a managed wind down of the business.

“Regrettably, we have therefore had to make 68 members of staff redundant, with the remaining staff being retained in the short term to assist us with the closure of the sites.”

If you are not a registered user your comment will go to AM for approval before publishing. To avoid this requirement please login.

Comment as guest


Login  /  Register

Comments

No comments have been made yet.