Jobs to go at County Durham car dealership

Staff at Holiways Ford car dealership are waiting to hear if they will be made redundant after it was announced the company had gone into administration.

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Job losses certain as car dealership goes into administration

Car dealership Holiways has gone into administration and most of the company's 81 staff are set to be made redundant.

The new and used car dealer - which had sites in Newton Aycliffe and Bishop Auckland - had suffered a drop in trade as a result of reduced consumer spending.

And this is despite the company selling its Durham and Hartlepool dealerships in recent weeks.

KPMG have been appointed administrators .

"It is unsurprising that during a recession, a relatively rural car retailer has struggled. Despite a restructure, which saw Holiways sell two dealerships in recent weeks, the siginificant losses incurred by the business through the summer means it simply couldn't continue to trade."

– Mark Firmin, regional head of restructuring at KPMG

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