Northern Ireland car dealer announces plans to close its Autostore in Portadown

Northern Ireland car dealer Agnew Group has revealed plans to close its Autostore in Portadown only three weeks after Christmas.

The announcement was made internally on Monday (January 15) with news shocking staff that the car showroom will shut its door in six weeks on March 1.

The Belfast-based firm states the Portadown store is the ‘only remaining non-franchise dealership in the group and no longer forms part of the strategic Agnew Group portfolio and growth strategy’.

Ten members of staff are said to be affected by the decision as the board commences the consultation process regarding redundancy.

A spokesperson from Agnew Group, said: “The Agnew Group has briefed staff about the closure of the Agnew AutoStore on Friday 1st March 2024. The board has commenced the consultation regarding redundancy with the 10 individuals affected by this decision and will provide the necessary support to them.

"The Agnew AutoStore used car dealership is the only remaining non-franchise dealership in the group and no longer forms part of the strategic Agnew Group portfolio and growth strategy. The business needs to adapt to a market which has seen significant changes over the past number of years and continues to grow in all other parts of the business except the stand-alone used car format.

“With a focus on the franchised business aligning with strong manufacturer brands we are better placed to continue driving growth. As part of our strategy, we will continue to look at opportunities with additional franchises into the future.”

The business operates 12 dealerships in the areas of Belfast, Newtownabbey and Portadown, representing seven manufacturer brands.

Last year the Agnew Group shut two sites in Belfast, Ladas Drive and Boucher Road, after discussions with the SEAT manufacturer.The group employs around 1,100 staff and in 2023 invoiced and delivered over 20,000 combined new and used vehicles, and generated over £600m turnover, in a market that saw new vehicle supply improving from manufacturers. This was amidst continuing challenging trading conditions with pressures on costs and overheads.

Established in 1931 by The Agnew Family, Agnew became part of the Sytner Group of companies in 2012, the UK’s largest motor retailer, which in turn is owned by the Penske Automotive Group, USA whose shares are listed on NYSE.