Partner Article

Garage chain revs up for recession

A local garage chain has bought 15 new trading outlets for £3m as part of their latest expansion plans. North Eastern Tyre and Exhausts unveiled annual results which have seen turnover rise by 10% to £43m.

Although like for like sales are expected to rise only modestly in the coming 12 months, the addition of the new outlets will push the Middlesbrough-based company’s turnover to £50m this year.

Gavin Marshall, Managing director company, said: “We are very pleased with our continued growth. We set ourselves targets and we are pleased to say we have achieved them. These acquisitions help us further along the path of our strategic plan. We have secured 84 jobs and our people now have an opportunity to develop themselves in our business.”

When Goodyear decided to offload its HiQ servicing centres late last year Mr Marshall saw the opportunity to rapidly progress his company’s development. He secured 15 of its sites in the North East and Yorkshire, with eight of these being based between the Tees and the Tweed.

This was posted in Bdaily's Members' News section by Ruth Mitchell .