MMH has announced a tidying up of its dealership portfolio with six underperforming sites to be closed by the end of the year. While there will be exceptional closure costs of c£6m, the closures will eliminate c£1.3m of operational losses expected in 2017. Although £4m of the cost is cash this will flow out over a number of years against an onerous lease, and the disposal of Marshall Leasing, which has yet to complete, significantly improves the balance sheet. Our underlying
21 Nov 2017
Marshall Motor Holdings - Polishing the portfolio
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Marshall Motor Holdings - Polishing the portfolio
- Published:
21 Nov 2017 -
Author:
Andy Chambers -
Pages:
2
MMH has announced a tidying up of its dealership portfolio with six underperforming sites to be closed by the end of the year. While there will be exceptional closure costs of c£6m, the closures will eliminate c£1.3m of operational losses expected in 2017. Although £4m of the cost is cash this will flow out over a number of years against an onerous lease, and the disposal of Marshall Leasing, which has yet to complete, significantly improves the balance sheet. Our underlying