CAR dealership Lookers has announced it will axe around 1,500 jobs as its looks to slash costs in the face of the coronavirus crisis.
It has only just reopened all 160 of its sites following Government guidance that they could welcome back customers from June 1, but it’s now said it will permanently close 12 branches.
But it was struggling with a tough car market even before the pandemic hit.
Over the past year it has issued two profit warnings and been investigated by the city watchdog over its sale of finance deals.
And in March, it was forced to delay its accounts after discovering fraud.
Lookers said it was launching redundancy consultations across all areas of the group, across its 8,100-strong workforce.
The Altrincham-based group said it is looking to either close down branches, merge them with other showrooms or refranchise them.
This latest round of cuts is on top of the 15 dealership closures that the company announced in November last year.
The closures will leave it with 136 dealerships across the UK, while Lookers said the moves will cut costs by about £50 million a year.
More to follow…
Did you miss our previous article…
https://www.hellofaread.com/money/third-of-renters-on-furlough-worried-they-wont-be-able-to-pay-rent-when-lockdown-ends/
