Administrators at Carshock have closed the business with immediate effect.

The car supermarket ran into trouble earlier this month after the group’s finance partners Banco Santander and Fortis Bank withdrew support after mounting cashflow problems.

The closure of the business meant the loss of 50 jobs at CarShock's seven branches across the region. Customers who paid deposits for cars, or in some cases full balances, are now waiting to see if they will get their cash back.

Toby Underwood, business restructuring partner at administrators BDO Stoy Hayward, said: "We have conducted an immediate review of the CarShock business and it is with real regret that it has been necessary to close the business.

"Our priority now is to maximise the realisation of the company's remaining assets to generate as much money as possible into the business for the benefit of all creditors."

  • The administrators are currently in the process of working through documentation, and have advised customers to send details of the amount owed to them at the date of the administration to TS Underwood, joint administrator, BDO Stoy Hayward LLP, 1 City Square, Leeds, LS1 2DP or contact them on 0121 352 6268.