Car seller Lookers could cut hundreds of jobs after takeover

Car seller Lookers could cut hundreds of jobs after striking a takeover deal with a Canadian dealership giant.
The company said a number of roles across its operations were at risk of redundancy after the buyout completed this month, taking it off the London Stock Exchange where it was publicly listed for 50 years.
According to reporting by Reuters, some 945 jobs could be at risk as a result of restructuring.
Lookers, which has dealerships across the UK, and also offers car servicing and MOTs, was taken over by Global Auto Holdings in a deal worth £504m.
The buyer, a bidding entity of Canada’s Alpha Auto Group, raised its offer for the Manchester-based dealership in the summer after Lookers’ biggest shareholder pulled out.
Alpha Auto and its private owner have more than 160 dealership gro …
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