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 45.11 - Sale of cars and light motor vehicles
300 jobs Number of planned job losses
Announcement Date
18 September 2019
Employment effect (start)
Foreseen end date
31 December 2019
Description
Used car sale company Car Store announced its plans to close 22 of its 34 sites across the UK. The closure of stores is expected to take effect by the end of 2019 and to result in the loss of around 300 job positions. According to reports, the sites have not been identified yet but they are considered the worst performing in the group. The company points to Brexit and the uncertainty around the UK's relationship with the EU as factors that have eroded consumer confidence.
Eurofound (2019), Car Store, Internal restructuring in United Kingdom, factsheet number 98644, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/98644.
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