UK: Lookers eyes funding options
British car dealer group Lookers has said it is continuing to talk with its lenders to ensure appropriate funding and that it was also considering alternative sources of capital to reduce the additional cost of bank borrowings.
The company also said it continued to trade ahead of budget and to be highly cash generative, helped by strong used car sales and growth from its aftersales and aftermarket parts distribution businesses, Reuters reported.
Its diversified business model coupled with cost savings is enabling it to trade resiliently through a tough market, Lookers said.
Separately, the company said finance director David Dyson had left the company for personal reasons and that it appointed Robin Gregson as group finance director effective immediately.