Administrator in at car dealer Camden
One of Britain's biggest car businesses has become the latest victim of the credit crunch, putting 800 jobs at risk.
Camden Group operates eight dealerships selling Ford, Nissan, Renault and Vauxhall marques in locations including Milton Keynes and Aylesbury, Buckinghamshire.
It also supplies fleet vehicles to rental firms including Avis, Hertz and Europcar.
Camden, which had sales of £884 million and made pre-tax profits of £4.6 million in the year ending December 2007, called in administrators Zolfo Cooper.
The firm, based at Leighton Buzzard, Bedfordshire, carried out a £66 million management buyout in 2007 and is believed to have been unable to meet annual debt repayments.
Alastair Beveridge of Zolfo Cooper said: "Camden Group has not been able to escape the extremely tough trading conditions that the sector as a whole is battling through.
"We will continue to trade the business as a going concern as we assess the options for the business."
