ONE OF Co Wexford’s main car dealerships has been forced to close.
James Sidney Car Sales in New Ross applied for the appointment of a provisional liquidator last Friday after losing its 18-month struggle to stay open.
The company issued a statement yesterday, which said it has “experienced extremely challenging trading conditions because of the economic downturn, which resulted in a severe decline in the motor trade”.
The family-run business, which James Sidney took over from his father Michael, said it had made every effort to restructure the company financially to secure its viability.
“Overheads have been reduced by over 50 per cent in the last year and staff numbers during the same period were reduced from 26 to 18, with 40 per cent of the remaining staff reduced to part-time,” the statement said.
“However, our company has found it very difficult to maintain its viability and consequently the directors were left with no option but to apply for the appointment of a provisional liquidator, which we did last Friday.”
A Renault dealership since the 1960s, Sidney Car Sales opted out of the franchise last summer.