Car supermarket chain collapses, more than 500 jobs lost

One of the UK’s largest car supermarkets has ceased trading and made more than 500 employees redundant, a recent news report in the local media has been able to reveal.

Rochdale-headquartered Carcraft has collapsed, with Daniel Smith and Joe McLean, both partners at Grant Thornton UK, being appointed as administrators to CC Automotive Group and UK Car Group, trading as Carcraft.

All employees have been made redundant after being paid on 30 April 2015 for the month of April. The group’s finance arm, All In One Finance Ltd, which is regulated by the Financial Conduct Authority (FCA), is expected to be placed into administration shortly once FCA clearance has been obtained.

The administrators said the group operates in a competitive market and has suffered from poor market reputation, lack of investment, a high cost base, expensive loan note financing and an insolvent balance sheet all of which have hindered investment. It also has legacy payment protection insurance claims.

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