(PDG.L) Pendragon PLC Buy/Sell

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Author	executive1 View Profile \| Add to favourites \| Ignore
Date posted	2009-11-03 09:16
Subject	Re: Its that time of year
Votes for this Posting	Has no votes for or against.
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Difficult to see how PDG can avoid another round of site closures. From memory i think that they have approx 300 sites. Lookers and Inchcape have just over 100 each. Other entrants such as Vertu etc, are building up scale, however they will cease to expand when they have reached an optimum point. The new car market has decreased significantly and is likely to remain subdued for a number of years, and there is therefore simply no need for the capacity that PDG has. The issue of the bank owning empty sites is not as large as funding a struggling business indefinitely,as property will always return in the long run. I would suggest that the PDG business is simply too big for the marketplace that now exists, and judging by the comments on this board, struggling to control and motivate staff in the correct manner. All imho.
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