BusinessBusiness RecoveryPwC secures Renault dealership sale

PwC secures Renault dealership sale

Renault dealership enters administration before being bought

Renault dealership Swan Street Motors has been sold, preserving the majority
of 56 jobs at the company, after entering into administration.

Stephen Oldfield and Rob Birchall of PwC were appointed administrators at the
Kings Lynn dealership and secured a sale to another dealer, the West’s Garage
Group.

After a period of significant trading difficulties Swan Street Motors ceases
trading on Wednesday 3 May 2006.

Administrators entered into talks with a number of dealers, resulting in the
sale.

However they were not able to sell the Nissan franchise and bodyshop
divisions of the business, resulting in 27 redundancies.

‘I am pleased we have managed to secure the future of motor trading at the
Swan Street site and preserve many jobs from what was a very uncertain
position,’ said Oldfield.

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