The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Retail Wholesale And Retail Trade And Repair Of Motor Vehicles And Motorcycles Sale Of Motor Vehicles 45.1 - Sale of motor vehicles
820 jobs Number of planned job losses
Announcement Date
14 December 2005
Employment effect (start)
Foreseen end date
Description
The Yes Car Credit business is to be closed with the loss of about 820 jobs, its owner Provident Financial has said. Provident Financial said Yes Car Credit was 'no longer viable' after talks with possible buyers of the company collapsed last week.
Provident said tough competition and changes to the regulatory environment had changed trading conditions, and Yes had ceased to be profitable in 2004. Yes, which is based in Horsham in West Sussex, is expected to make a pre-tax trading loss of £24 million in 2005.
Sources
14 December 2005: BBC News
Citation
Eurofound (2005), Yes, Closure in United Kingdom, factsheet number 62646, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/62646.
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