Brecon Ford, which went into receivership on October 5, has been sold to Cwmbran Ford for an undisclosed sum.

The sale was negotiated by receivers Grant Thornton, called in by Harold Elston and Sons, which trades as Brecon Ford.

The business operated as a Ford main dealership in Brecon. Following the sale all 21 staff will transfer to the new owner, which operates Ford dealerships in Cwmbran, Newport, Chepstow and a Volkswagen operation in Merthyr Tydfil.

Richard Dawes, a Grant Thornton receiver, said: “Brecon Ford had suffered from significant cash flow problems leading to the receivership. The business has been sold as a going concern."

Brecon Ford went into receivership with an annual turnover of approxiamately £7m.