Is Pendragon/Stratstone going under this week??
Discussion
MZ said:
Just found out that Stratstone/Pendragon (whatever they're called) have closed down a load of their dealerships late last week. I know they're supposed to be in bother, but I wonder if this is the end for them. I personally hope it is!
Why do you enjoy seeing loads of people out of a job?Or is it because you recieved s
te service from one of there dealers once? - in that case hope they never work again the barstewards!! 
Donut said:
MZ said:
Just found out that Stratstone/Pendragon (whatever they're called) have closed down a load of their dealerships late last week. I know they're supposed to be in bother, but I wonder if this is the end for them. I personally hope it is!
Why do you enjoy seeing loads of people out of a job?Or is it because you recieved s
te service from one of there dealers once? - in that case hope they never work again the barstewards!! te service from them on many, many occasions!!MZ said:
Donut said:
MZ said:
Just found out that Stratstone/Pendragon (whatever they're called) have closed down a load of their dealerships late last week. I know they're supposed to be in bother, but I wonder if this is the end for them. I personally hope it is!
Why do you enjoy seeing loads of people out of a job?Or is it because you recieved s
te service from one of there dealers once? - in that case hope they never work again the barstewards!! te service from them on many, many occasions!!MZ said:
jamiebae said:
Did they close a load of them? I heard it was just a Volvo site in Reading. The other 3 or 4 groups that closed this week are nothing to do with Pendragon.
Volvo in Crewe has gone and also in Stockport (this might include Saab).There's been a lot of noise about Pendragon being in some fairly serious financial difficulties but if they're going to collapse I'd expect it to happen late December/early January rather than now.
certainly not looking very clever at the moment, check out the 6 monthly share price chart, hard to see how they would raise any cash to keep themselves going in the coming months.
http://uk.finance.yahoo.com/q?s=PDG.L
The message boards are all full of doom and gloom as well.
http://uk.finance.yahoo.com/q?s=PDG.L
The message boards are all full of doom and gloom as well.
MZ said:
Just found out that Stratstone/Pendragon (whatever they're called) have closed down a load of their dealerships late last week. I know they're supposed to be in bother, but I wonder if this is the end for them. I personally hope it is!
Really nice. I lost my job with a big dealer group but I suppose I deserved it right? After all, working in marketing I had loads of oppourtunites to give bad customer service If your made redundant don't come to here looking for sypmathy as you'll not get it.
jamiebae said:
The other 3 or 4 groups that closed this week are nothing to do with Pendragon.
There seems to be a couple a day at the moment.The model is surely completely screwed - I don't know how any modern full service dealership can possibly make money.
If anyone is looking to pick up a bargain then make sure you pay the deposit with a credit card!
pat_y said:
certainly not looking very clever at the moment, check out the 6 monthly share price chart, hard to see how they would raise any cash to keep themselves going in the coming months.
http://uk.finance.yahoo.com/q?s=PDG.L
The message boards are all full of doom and gloom as well.
Wow, there share price has dropped so much the 6month graph is on a log scale!http://uk.finance.yahoo.com/q?s=PDG.L
The message boards are all full of doom and gloom as well.
HRG said:
Hmm, could there be some cheap stock going? I had a cursory look at a car on one of their sites...
I did hear from a reliable source of an Audi dealer selling stock to pay staff wages - maybe it was the Sidlow one (Gatwick Audi) that went last week, although that's not in an area I would expect my contact to know about.When dealerships actually go pop, the stock usually disappears overnight.
Deva Link said:
When dealerships actually go pop, the stock usually disappears overnight.
One around the corner from me (Barkers Group, Peugeot) had transporters arrive at 8am and they were done by 10am.Scary stuff.
As much as I dislike Pendragon I hope they weather the storm and their staff keep their jobs.
Deva Link said:
HRG said:
Hmm, could there be some cheap stock going? I had a cursory look at a car on one of their sites...
I did hear from a reliable source of an Audi dealer selling stock to pay staff wages - maybe it was the Sidlow one (Gatwick Audi) that went last week, although that's not in an area I would expect my contact to know about.When dealerships actually go pop, the stock usually disappears overnight.
Roo. said:
Deva Link said:
HRG said:
Hmm, could there be some cheap stock going? I had a cursory look at a car on one of their sites...
I did hear from a reliable source of an Audi dealer selling stock to pay staff wages - maybe it was the Sidlow one (Gatwick Audi) that went last week, although that's not in an area I would expect my contact to know about.When dealerships actually go pop, the stock usually disappears overnight.
Deva Link said:
jamiebae said:
The other 3 or 4 groups that closed this week are nothing to do with Pendragon.
There seems to be a couple a day at the moment.The model is surely completely screwed - I don't know how any modern full service dealership can possibly make money.
If anyone is looking to pick up a bargain then make sure you pay the deposit with a credit card!
I know that Amathyst in Gloucestershire and Wiltsshire have gone - who are the others.
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