Thomas Day Motors has had to call in administrators Baker Tilly at its single site in Fleet, Hampshire.

The business cited the measure as a result of the global credit crunch and the inability of banks to support small businesses.

A statement on the company’s website said: “May we take this opportunity of thanking our many customers and friends for their business over the last 40 years.”

Thomas Day Motors had a duel franchise site with MG and Renault.