Begbies Traynor Group plc : Begbies Traynor rescues two of seven Southgate sites so far

Begbies Traynor rescues two of seven Southgate sites so far

January 30, 2012

Administrators of the Southgate Motor Group which crashed in November have managed to negotiate the reopening of two of the seven sites that were closed.

Julie Palmer and Kirstie Provan of corporate recovery specialists Begbies Traynor were appointed administrators on November 11, 2011.

Mrs Palmer said they were pleased to announce that the Bridport site had now re-opened as a Mitsubishi dealership. Motorwell Ltd has agreed a new lease with the landlord and bought the company assets on the site from the adminstrators.

Several of the former Southgate employees have now been employed by the new company.

Southgate's former Romsey site has also now re-opened as a Peugeot dealership.

Mrs Palmer said: "The landlord has agreed terms with Snows Motor Group, thereby preserving one of the oldest Peugeot dealerships in the UK, creating 25 jobs in the process.

"This will be good news for the many Peugeot owners who have been in contact with the administrators.

A spokesman for Snows Motor Group said they had already taken on about 12 ex-Southgate staff from across their various branches and may take on more as they move towards full capacity.

The £40 million turnover Southgate Group was based at Romsey and had Peugeot, Mitsubishi, and Subaru franchises on seven sites across Hampshire and Dorset.