Customers who have servicing, MoT, warranty or roadside assistance deals with the firm, will no longer be covered. Grant Thornton, the administrators, said Carcraft - who were the seventh largest car dealership in the country and had an annual turnover of £120m - is to be wound up.
The administrators will be contacting affected customers to tell them that all or part of their contract will no longer be honoured. Luckily, finance plans for cars themselves were provided by a third-party, so they should be fine.
Joint administrator, Daniel Smith said: "With great regret a conclusion was reached that it is no longer viable to keep Carcraft in operation. In order to prevent further losses it has been agreed with management and creditors to cease operations with immediate effect."
What Happens Next?
If I have bought a car from Carcaft recently, due to pick up your keys in the next few days or having paid a deposit, you should contact the administrators via [email protected].
You should contact the same email address as above if you want to know what happens next if you have a Drive Happy Plan. Circumstances will differ, so you need to speak to someone.
If you want any other information, then a helpline has been set up for customers, at 0800 923 9495.