After three decades in business Moyes Panmure is set to close after a major supplier, Holden, announced plans to change its long-term business strategy.
Holden stopped producing cars in Australia recently and in doing so changed its long-term business strategy to limit its franchise agreements – including Moyes Panmure. So far Holden has dropped 30 dealers in Australia also.
The agreement for Moyes Panmure will end in 2018, meaning the car dealership has just under two months to sell around 250 cars.
Moyes Panmure is on a 2.3-hectare site, it is unknown what will happen to the area once the company has vacated. The company said in a release that although it still has a deal with Suzuki, it needed another large dealer to go with it as used cars are too difficult to do on their own for a large site.
The business is set to close by Christmas as the 70 staff were informed of the closure this Tuesday.
The company also said in a statement that it is unlikely another Moyes Panmure will be opened in the future.
“The big McDonald’s”, which featured in Moyes Panmure’s advertising campaigns for decades as a location reference, was also knocked down last week.