Car dealership Williams Hodgson Limited was sold out of administration, saving 20 jobs.
Operating under a franchise agreement with SEAT, part of the Volkswagen group, the Essex-based business traded as Grants SEAT, retailing and servicing new and used SEAT cars.
Although car sales in the UK have been on the rise for nearly two years, William Hodgson claimed its troubles stemmed from a “lack of new car sales” and “a decline in parts stock trade.”
Quickly following the appointment of joint administrators Andrew Duncan and Alex Cadwallader of Leonard Curtis, the company was sold to Marshall Motor Group Ltd, the second largest privately-owned car dealership in the UK.
Andrew Duncan, director at Leonard Curtis Business Solutions Group, said: “We are delighted to have completed the sale as a going concern. The outlook for the business is positive as part of a larger dealer network and we look forward to seeing the business succeed in the future.”
Daksh Gupta, chief executive at Marshall Motor Group, said: The Braintree site has picked up a number of important awards since it opened in 2008 and we are delighted that it is now part of our group.”
With an annual turnover of £1 billion and 2,220 members of staff, Marshall Motor Group has added 48 franchises to its portfolio since 2009, and now runs around 70 franchised dealerships, representing 22 different manufacturer brands.