Peter Vardy to close two sites

One of Scotland’s leading automotive companies The Peter Vardy Group has announced it will close two purpose-built used car supermarkets in Dundee and Glasgow.

This move comes as a result of the challenges faced in the used car market post-Covid, primarily due to a lack of used vehicle supply.

Peter Vardy, CEO, said: “Proposing the closure of any business, when the primary focus is on colleague engagement, welfare and career development is of course a disappointment. I am sorry to and for our affected colleagues but we will do everything in our power to support them in this period. The lack of a used car supply for car supermarkets has driven this decision, it hasn’t been performance or skill or the quality of our teams, it’s a change in the market conditions.

“While the decision to close our used car supermarkets is tough for us all, we firmly believe that reallocating resources, funds, and talent to the growing divisions within the group will bolster long-term prospects for the business and its colleagues.”

Meanwhile, the group has announced its appointment as a new franchise partner for MG, with the first two sites opening this month in Kirkcaldy and Edinburgh.