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

ADELAIDE APARTMENT BREAKS OFF-THE-PLAN RECORD WITH $3M SALE

AN apartment in 'The Adelaidean' residential development in Adelaide has sold for more than $3 million, which...

CABCHARGE GIVEN GREEN LIGHT TO BUY YELLOW CABS IN QUEENSLAND FOR $20M

THE consumer watchdog will not oppose the proposed acquisition of Yellow Cabs in Queensland by taxi payment service C...

SLEEPING ROUGH IN THE NAME OF CHARITY: 170 BRISBANE BUSINESS LEADERS TAKE PART IN THE CEO SLEEPOUT

OVER 170 Brisbane CEOs and business leaders will brave the cold tonight to fight homelessness in what will be the big...

DOMESTIC TOURISM IN AUSTRALIA BREAKS RECORDS, INJECTS $61.7 BILLION INTO NATIONAL ECONOMY

DOMESTIC Australian tourists have spent a record breaking $61.7 billion on intra and interstate travel this year, acc...

Related News

DOMESTIC TOURISM IN AUSTRALIA BREAKS RECORDS, INJECTS $61.7 BILLION INTO NATIONAL ECONOMY

DOMESTIC Australian tourists have spent a record breaking $61.7 billion on intra and interstate travel this year, acc...

THE DOCTORS WHO PLUNGED INTO THE SHARK TANK AND SURVIVED WITH A $500,000 INVESTMENT

THEIR mission is to change the face of cancer care with an app that empowers and connects patients and care givers...

IMF BRACES FOR BIG LOSS FOLLOWING WITHDRAWAL FROM SPOTLESS CLASS ACTION

LITIGATION fund IMF Bentham (ASX: IMF) is set to lose as much as half a million dollars after it ceases funding one o...

WAGERING GIANTS TABCORP AND TATTS GIVEN GREEN LIGHT FOR $11B MERGER

THE Competition Tribunal has approved Tabcorp's (ASX: TAH) $11bn takeover bid for Tatts (ASX: TTS) on the conditi...

BOOK YOUR FUNCTION SPACE HERE

 

 

 

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter