Pendragon announces plan to raise over £200m
Pendragon, the Nottingham headquartered motor retailer, has outlined plans to dispose of its US arm and reduce the number of franchises in its UK new car business.
In a statement to the London Stock Exchange this morning (4 December), Pendragon said its premium brand franchise locations will be reduced over a three year period.
The company also said it has appointed an automotive adviser to sell its US motor group.
Pendragon says that these measures will net the company over £200m.
In a further move, Pendragon said it has... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...
