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Used car shop Disponible Car suffered a pre-tax loss of more than £7 million in 2022, according to its new accounts for the year.
The family-run car supermarket group’s accounts for the year ended December 31, 2022 show its turnover rose from £329.7m the year before to £335.7m.
However, loan prices almost doubled from £964,000 to £1. 67 million and posted a pre-tax loss of £7. 3 million to a healthy profit of £2. 1 million in 2021. It also moved from an operating profit of £3. 1 million to a profit of £3. 1 million. Loss of £680,000.
Available Car blamed persistent used car origin issues, emerging costs and difficult economic conditions, and said poor functionality led it to sell two of its four sites last year.
Bank loans soared from £1.488m in 2021 to £7.248m in 2022, while other loans rose from £41.497m to £58.03m
However, dividends of £582,000 were paid in 2022, the same amount as in 2021.
Meanwhile, directors earned emoluments totaling £737,000 in 2022, up 24% from the £595,000 they earned in 2021, and the highest-paid director received £317,000, up 20% from £264,000. that they received this year. . before.
It won £1. 044 million in the Coronavirus Job Retention Scheme in 2021 but did not get such a grant in 2022.
Available Car now operates sites in Castle Donington and Sutton-in-Ashfield, having sold its Cannock and Leeds showrooms to Big Motoring World last October, reported via Car Dealer.
The Castle Donington operation is its original and flagship site, which opened in January 2022 and is said to currently employ a further 200 people and sell 1,200 cars.
Sutton-in-Ashfield has 135 workers and 850 cars.
Available Car claims to have pioneered a non-automotive retail concept in which consumers are sold cars but helped to buy them.
It was established in 2001 through Graham Bell and his son, Michael, who currently holds the position of Managing Director. The company is controlled through Graham and Alison Bell.
In the accompanying report, signed on behalf of Graham Bell’s board of directors, Available Car says it sold 19,358 cars in 2022 and has an average of 3,980 sets in stock.
He adds: “2022 follows last year as a challenging year for the company. The current demanding situations in the supply of used vehicles, emerging prices and difficult economic situations have led to a loss of business.
The most sensible photo shows Donington Castle for available cars.
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John has been with Car Dealer since 2013 after spending 25 years at the newspaper as a journalist and then Deputy Deputy Editor/Deputy Editor-in-Chief of Regional and National Titles. John is an Assistant Editor of Car Dealer’s Editorial Department and social media manager.
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