COLLAPSE OPENS DOOR FOR Q FORD

Written on the 18 July 2011

COLLAPSE OPENS DOOR FOR Q FORD

IN a bid to expand the company, Q Ford has purchased the Ebbw Vale Brisbane-based business and assets of Bremer Ford for an undisclosed sum.

Last month, Q Ford purchased the Suzuki dealership in Springwood, also for an undisclosed sum.

Denmac Ford, including three sites – its head office, sales, service and parts located in Darra, the other two showrooms in Indooroopilly and Moorooka and Bremer Ford, which offers sales, service and parts went into receivership last month.

The company appointed receivers from Deloitte to handle the receivership citing a sales slump caused by the floods for their situation. The remaining two sites of Denmac Ford remain up for grabs.

Q Ford executive director Adrian Field says everyone involved in the transaction was aware they had to move fast if Bremer was to remain a going concern and everyone involved rose to the challenge.

“I’m amazed at just how quickly it came together in the end – we’re excited about coming to Ipswich. The culture of the city feels progressive and its plans for the future are exciting. These are values shared by the Q Ford team,” he says.

“We knew Denmac Ford was in stress, although when it folded we were just as surprised as anyone and decided to go for the opportunity.

“We won’t be making any physical changes to the site, but we are employing some new staff and we’re looking at changing some of the processes and procedures – we don’t want to end up in the same predicament as Denmac Ford and it’s early days yet.”

The new owners have confirmed they intend to retain the name Bremer Ford.

Deloitte partner Richard Hughes says Q Ford understands the local market and is well regarded.

“It’s pleasing that the remaining four employees, along with several people who had lost their jobs when the company went into receivership will be offered positions by the new owners,” he says.

Ipswich Mayor Paul Pisasale says everyone involved with the deal worked tirelessly to come up with a solution that would keep the business trading.

“I’d like to pass on my congratulations to the receivers and Q-Ford management on the successful negotiations to take over Bremer Ford and for backing the future of Ipswich,” he says.

Q Ford Brisbane began in 1980 and operates from three separate outlets in Springwood, Hillcrest and Beenleigh. Settlement of the contract for sale occurred on June 14 and Bremer Ford has already reopened for business.


Latest News

GROUPTOGETHER A GIFT FOR TIME-POOR PARENTS

JULIE Tylman and Ali Linz have taken the stress out of gift giving by creating GroupTogether, an online platform whic...

SIRTEX CEO DISMISSED FOLLOWING SHARE TRADING PROBE

SIRTEX Medical Ltd (ASX: SRX) has sacked its chief executive officer, Gilman Wong (pictured), following an investigat...

SANTA DELIVERS KOGAN A GIFT

KOGAN.COM (ASX: KGN) has exceeded its expectations and reported another strong quarter of trade.

The online retail...

FOUR WAYS YOU SHOULD PROTECT YOUR IT SYSTEMS FROM EXTREME WEATHER

SHANNON Overs, co-founder of onPlatinum ICT, sees it too often, perhaps half a dozen times per year businesses tha...

Related News

RISE OF STARTUP SUPPORT PROGRAMS NOT AS ROSY AT IT SEEMS

ENTREPRENEURIAL cultivation companies in Australia are appearing quickly, but questions have been raised about whe...

SMES TAKE RETAIL MARKET SHARE AS CONSUMERS CHOOSE PERSONALISATION

IN a battle for the hearts and wallets of Australian consumers, it appears that small and medium retail businesses...

KNOWLEDGE WORKERS AMONG MOST SOUGHT AFTER IN 2017

BUSINESSES searching for efficiencies and improved systems are in search of knowledge workers early this year, say...

FEMALE ENTREPRENEURS GET SPRINGBOARD TO GROWTH

DESPITE the fast-growing number of women studying STEM subjects at school and university, women continue to be und...

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter