A car dealership in Sudbury faces an uncertain future, after the company formally ceased its operations because of what it described as “unsustainable trading conditions”.
Big Cars Ltd announced it had officially shut down all three of its sites in the region last week, including a showroom on Chilton Industrial Estate, with administrators called in to look at potential options for the business going forward.
There was confusion prior to the announcement when the firm wrote on Twitter it was closed for the weekend and would be contacting its existing clients on a case-by-case basis, adding that it was sorry for the uncertainty and inconvenience caused.
Adam Stott, director of Big Cars Ltd, said that, despite the company’s successes during the last decade, the shifting landscape in the car sales industry meant it could not continue in its current form.
Mr Stott stated: “Due to unsustainable trading conditions, Big Cars Ltd took the difficult and unavoidable decision to cease trading.
“Our immediate priority is to secure the best possible outcome for customers and creditors.
“Over the past nine years, Big Cars had achieved rapid growth and built up one of the UK’s largest corporate profiles on social media.
“But major changes within the motor retail market, in respect of finance and stock provision during 2017, impacted significantly on the business.
“Our advisor, Grant Thornton, has received a number of offers to acquire assets of the company and we remain confident that an agreement will be reached in the near future.
“We would like to take this opportunity to apologise to customers, employees, suppliers and other affected parties for the uncertainty during this time, which we deeply regret.
“We are working tirelessly to reach a solution.”
The firm’s website has also been disabled, with a message on the homepage telling customers who have placed orders to call 01376 503584.