A HUGE used car supermarket is shutting for good after its owners failed to find a buyer.
Bosses have confirmed the massive dealer, once the most profitable in the UK for selling second-hand cars, will shut in just a few days.
Cargiant confirmed it will close its near-50 acre site in London on April 24 after its owners were unable to “secure a viable future for the business”.
Bosses at the supermarket have been consulting with staff over the closure for the past month.
The sprawling near-50 acre site is located in West London next to a planned HS2 interchange, which will connect HS2, the Elizabeth Line, overland and other transport links.
The value of the land is reportedly estimated at £100m.
In a statement to Car Dealer, a spokesperson said: “It is with great sadness that we announce the closure of Cargiant’s retail operations.
“This decision follows an extensive consultation process with our team, during which we carefully explored all potential options to secure a viable future for the business.
“We would like to sincerely thank our colleagues for their commitment, professionalism, and the constructive way they engaged throughout that process.
“Unfortunately, despite those efforts, we have concluded that the business is no longer commercially sustainable in its current form.
“This reflects a combination of factors, including a continued reduction in the supply of used vehicles, primarily driven by the EV mandate, alongside rising operating costs and increasing complexity within the used car market.”
The Sun has approached Cargiant for further comment.
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