Tesco Cars Into Administration

Administrator Grant Thornton has been appointed in charge of the business running the failed TESCO Cars website.

 

Carsite and Auto Online are both under administration as both traded as ‘Tesco cars’ from April 2011 until its collapse earlier this month, Grant Thornton will take over the sale of their assets, including the online trading platform and 240 cars.

 

It had appeared that Tesco Cars has withdrawn its much publicised servicing offer some months before it collapsed, leaving a big hint that this was going to happen. Sources also suggest the business failed to sell more than six hundred cars.

The plug has been pulled by Tesco on its used car sales business saying it was unable to source as satisfactory supply of vehicles. In the group’s results published yesterday, a 35 page document, Tesco made no mention of its exit from the used car market.

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