Bid to save 28 jobs at car dealership
THE receivers of well-known car dealership HB Dennis are looking to find a buyer for the company in the hopes of securing 28 jobs.
The staff of HB Dennis Fairview Ltd, which is based in Airside Motor Park, Swords, north Dublin, were made redundant when the firm closed its doors last week.
Stephen Tennant and Michael McAteer from accountancy firm Grant Thornton were appointed as joint receivers to the firm by Ulster Bank last Friday.
The move was consensual on the part of the dealership and its bank.
According to the company's records, it made a loss of €569,748 in the year to March 2011 and a loss of €1,220,288 the year before that.
Its directors, Peter and Oonagh Dennis, blamed the difficult economic climate for the poor performance of the company.
Former staff members and family of current staff of the company have lamented the closure of the dealership -- which was known for treating its employees well.
Mr Tennant told the Irish Independent yesterday that they were currently looking into finding a buyer for the company. He said that if that failed, a strategy would be activated to sell its assets.
"In that situation, the employees will be looking into redundancy claims which is the bad news," he said.
"They lost the Volvo franchise in the last 11 to 14 days, which was a big blow for the company," he said.
Other aspects of the HB Dennis franchise, including a leasing company, have been unaffected by the closure.
Last week, dozens of cars were taken away from the premises of the dealer after Swedish car manufacturer Volvo terminated its sales agreement with the company.
Peter Dennis could not be contacted for comment yesterday.