CITY Motor Holdings has announced it has been forced to consider going into administration as a result of poor trading.
As of Tuesday, both City SEAT and City Skoda operations at the Houndmills Estate site have ceased trading with immediate effect.
A spokesperson for the group said: “We are in talks with third parties that may lead to the sale of the remaining dealerships as a going concern, and if a buyer can be found it will give us the best chance of preserving as many jobs as possible.
"There are a number of parties with who we are in discussions, which is encouraging.
“We can’t comment further until the negotiations with potential buys are completed.
“All staff are being kept updated on the current situation and will be the first to know should any developments be made.”
The company has franchises in Basingstoke, Newbury and Reading and cited "poor trading" as the reason.
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