Two years ago the company had 11 franchises in seven locations and employed 250 people. With the meltdown of the Irish motor trade over the last 18 months it restructured, shedding 150 jobs and implementing pay cuts of up to 30 percent. Today the directors terminated the remainder of the busiuness, closing five remaining branches with the loss of 95 jobs.
In a statement this evening the company blames inability to get bank credit as a key reason for the situation that led to its closure.
Grant Thornton is the provisional liquidator appointed by the company.
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