The future of the troubled Citroen dealership, Wyatt of Winchester, has been saved by administrator, Antony Fanshawe of Begbies Traynor, who has just negotiated the sale of the division and secured the jobs of the 17 staff employed there.
Antony Fanshawe is a partner with Southampton-based Begbies Traynor – the company handling the high profile administration of Southampton Football Club. He was called in on May 13 to the family-owned Wyatt Motor Group, a network of Citroën garages with dealerships in Winchester, Poole and Wokingham.
On appointment Fanshawe set about finding a buyer for all or part of the business. Within days a disposal to Freeborn Garages was secured for Wyatt of Winchester and Wyatt Concorde in Wokingham, saving 30 jobs in total.
Freeborn, which already has Citroen dealerships in Southampton and Godalming has acquired the two divisions to complement its Hampshire and Surrey portfolio.
Managing director Andrew Jones said: “We had already decided at Freeborn to concentrate on Citroen, a brand we have represented for nearly 30 years. When these two dealerships got into difficulties it made sense to rescue them as they are a perfect fit for our business and bring experienced staff and loyal customers with them, both prime assets for any company.
“Wyatt Group customers in Winchester and Wokingham can be assured that the staff they have dealt with in the past will be there in the future to help them and that they now have the backing of a major group to ensure this continues.”
Fanshawe commented: “Wyatt Motor Group was a victim of these turbulent and unique economic times and the directors found themselves in an incredibly difficult position. They took a number of very sensible steps over the past few months in a bid to safeguard the Group’s longevity and after 18 years in the motor trade, the decision to call it a day was not taken lightly.
“I am extremely pleased to have achieved the sale of the bulk of the business and, importantly, to have been able to save so many jobs.”