A County Armagh car dealership has gone into administration.
David Prentice (Cars) – which operates BMW and Mini dealerships from the Seagoe Industrial Estate – is one of the most renowned names in the industry in Northern Ireland.
It has been trading for more than three decades.
But it has been confirmed that the business has entered administration.
Belfast-based Keenan Corporate Finance duo Scott Murray and Tom Keenan have been appointed joint administrators.
But the 65 staff who work for the David Prentice group will remain.
Business has now been transferred to a new named company, Prentice Portadown Ltd, which is understood to be trading from the existing premises.
The managing director of Prentice Portadown is Joanne Houston and she has offered assurances that no jobs will be lost.
“Our chief concern has been our staff, our customers and our brand as a premier car dealership in Northern Ireland for over 30 years,” she told the Irish News.
“The establishment of this new company means that all of our staff will be retained and with strong backing from BMW/Mini, our products and services for our customers will be as good, if not better, than ever.
“This is a new era for us which will see our company focus solely on doing what it does best – providing a premium BMW/Mini dealership in Northern Ireland now and well into the future.”