BEN, the automotive industry charity, has said that it is offering professional advice services, signposting and short term financial assistance to those affected by last week’s announcement.
Commenting on the situation, Nigel Rothband, BEN’s Chief Operating Officer said: “The loss of over 500 automotive jobs is a huge blow to our tight knit industry community, and we are urging those affected to get touch with BEN as soon as possible.
“When you suddenly find yourself out of work, it’s overwhelming with what to do, where to go and will I pay the bills. You don’t need to cope alone, one phone call to BEN’s helpline will provide this information and they will help you every step of the way.”
Administrators, Grant Thornton has said the group suffered from poor market reputation, lack of investment, a high cost base, expensive loan note financing and an insolvent balance sheet.
Daniel Smith, partner at Grant Thornton, said: “With great regret a conclusion was reached that it is no longer viable to keep Carcraft in operation.
“In order to prevent further losses it has been agreed with management and creditors to cease operations with immediate effect.”