Administrators axe 26 jobs as Cars4You stops trading – Daily Business

A family-owned secondhand car dealer has ceased trading and called in administrators which have made 26 employees redundant.

Cars4You appointed BTG on 2 October after the company experienced ongoing cash flow challenges.

Established in 2016, and operating from several sites in central Scotland, the business had an inventory of up to 1,500 used cars and light commercial vehicles. 

Thomas McKay, managing partner of BTG in Scotland and Northern Ireland, said: “The used car retailing sector is facing increasing pressure as consumer spending tightens, and this means that we are seeing some retailers struggle across the market as others can still thrive.

“Having only recently been appointed we will be looking in detail and in due course we will be making a report to creditors about the reasons for, and circumstances of the failure in this particular case.

“At this point in the process we can confirm that, sadly, all 26 employees have been made redundant, and we have been working closely with those affected to help them access the support and financial entitlements available to them, including assistance from Partnership Action for Continuing Employment (PACE) and the Redundancy Payments Service.

“Our priority is to ensure the employees receive the guidance and advice they need during this process, and also to maximise the return from the sale of assets including vehicle stock to benefit the creditors.”