Marshall Motor closes car dealerships

Writer, Stock Market Wire
Tuesday, November 21, 2017 - 10:00

Marshall Motor Holdings has announced the proposed closure of five franchised dealerships and one used car centre.

In the year ending 31 December 2017 the dealerships are expected to make a combined revenue contribution of approximately £40m and a pre-tax loss of approximately £1.3m, the company said.

Closure costs are expected to be approximately £6m, including £2m of non-cash items.

The cash closure costs will, in due course, be partly offset by the disposal of a surplus freehold property and the realisation of working capital and disposal of stock held in the dealerships, it added.

At 10:00am: (LON:MMH) Marshall Motor Holdings PLC share price was -1.5p at 157.5p

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