Fleet News

Car Supermarkets group to open two new sites in 1998

CAR Group, which operates the Car Supermarket used car retail chain, has confirmed that it is to open two new sites, in London and Manchester, during the next year. The company, which has revealed pre-tax profits of £4.8 million (1996: £4.6 million) for the year to August 31 with turnover of £161.5 million (1996: £137.9 million), has signed a joint venture development agreement with Black Country Properties to develop future sites.

It is working towards a national network of outlets and has secured a £40 million rolling finance facility from Sun Life Properties to fund property requirements for its roll-out programme. In September Car Group bought Empress Cars for £20.3m. Empress already operated supermarket-style sites and its main outlet in Newport joined Car Group's existing Car Supermarkets in Cannock and Northampton.

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