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Cort re-opens with Fiat

FORMER CHAIRMAN of the MG Rover Dealer Association, Richard Cort, has opened a Fiat franchise in Bury under the name of Cort Ltd.

Earlier this month, the Cort Group went into administration.

The new business is on Manchester Road, Bury, the site of the Cort Group's original franchise.

Sarah Bell, a partner at Preston-based administrators, Begbies Traynor, said she understood that Mr Cort and Fiat had agreed terms.

"All the 20 employees previously employed have been taken on by the new business. As far as I am aware, Cort Ltd will be a slimmed down operation compared to the previous Fiat dealership. He has bought some cars and equipment from us."

Last year, it was reported that Richard Cort, who previously operated an MG Rover dealership in Bury, was owed a 6-figure sum when the car manufacturers crashed.

This month, the administrators blamed the collapse of the Cort dealerships on cash-flow pressures and slow payment by manufacturers which had resulted in losses which the business could no longer sustain.
SOURCE: Autowired
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