Carcraft in administration?

[Jamie Edmonds 28]

Apparently.

 

Various reports of bailiffs and Police on site on Twitter, could be messy given the volume of stock they hold.

[Jamie Edmonds 28]

The Times now reporting that Grant Thornton have been appointed as administrators.  The MBO didn't go through that long ago so something has gone very wrong here.  Finance rules? Inability to source stock? Who knows?

[It's me 613]

oh what a shame,such a nice company too

[James Baggott 227]

Here's our story on it http://cardealermagazine.co.uk/publish/carcraft-closes-500-people-lose-jobs/91950?utm_source=twitterfeed&utm_medium=twitter

[Andy Entwistle 96]

was only a matter of time sadly, sale of WBAC lined the pockets of those that use to run the group, i think they lost interest after that

[Jamie Edmonds 28]

Pretty damning statement from the administrators - basically the market has moved on, the business hasn't and the brand is toxic.

 

Will the issue with warranties, service plans and breakdown cover being cancelled cause consumers to be wary of buying from businesses who don't offer an underwritten product or is it too complex for most of the market to understand?