A MUCH-loved car dealership has been forced to shut its doors after some 50 years in business.
Blackdown Motor Company in Walton, Somerset, has ceased trading after facing “extremely challenging conditions” during the festive season.
The family-run business closed suddenly with 24 staff members being made redundant just days before Christmas, according to .
A resolution to wind up the company - which represented Subaru and South Korean brand KGM - was passed at a general meeting of the firm’s members on December 23, records show.
This was followed by the official appointment of a voluntary liquidator on January 7.
A statement of affairs published on January 10 reveals the company closed with vehicles totalling £2.36million in value, although their finance provider liability came to £2.52million – leaving a deficit of over £150,000.
It’s estimated that the rest of the firm’s assets will bring in £81,670, while documents reveal liabilities of £261,928 to HMRC.
A spokesperson for Assist Business Consulting Ltd, which is overseeing the company’s liquidation, told the Somerset Leveller: “The directors made the decision to cease trading in early December and the company was formally placed into liquidation on December 23, 2024.
“Unfortunately, this resulted in 24 staff members being made redundant.
“This was obviously a very difficult period for all involved and worsened by the unfortunate timing so close to the Christmas break.
“Businesses are facing extremely challenging conditions at the moment and coming under increasing pressure and this is another unfortunate casualty of those conditions.
“The Liquidator will now work to maximise the assets on behalf of the creditors and also liaise with its creditors, in particular the former employees and customers of the company, to assist them with the process and provide support to submit their claims.”
The news comes as another dealership was forced to shut up shop towards the end of last year.
Locals of Newton Abbot, Devon, were left baffled when the Swanson Motor Company suddenly closed.
Customers found the site locked up on November 22, and it hasn't reopened since.
A notice has since appeared on the firm's website confirming that the closure will be permanent.
The site, which specialised in Fords, is currently listed as "permanently closed" on Google.
Elsewhere, Rolls-Royce are gearing up for their all-electric future by splashing out on an upgrade to their Goodwood facility ahead of the release of their second EV.
The luxury carmaker has revealed a £300m investment has been made into its manufacturing plant at Goodwood, located near Chichester, West Sussex.
The plant, which serves as Rolls-Royce’s headquarters and design, manufacturing, and assembly centre, received the largest cash injection since it opened in 2003.
RR said: “The extension will create additional space for the increasingly complex and high-value Bespoke and Coachbuild projects sought by clients who define luxury as something deeply personal to them.
“It will also prepare the manufacturing facility for the marque’s transition to an all-battery-electric-vehicle future.”
The iconic British brand is also readying its second EV that’s set to be launched later this year.
