GOING GRAY: Iveco has bought dealership Grays Truck and Van out of administration for £1.72m, saving 120 jobs.
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The deal to acquire 'certain assets' of the business was struck with administrators Duff and Phelps on 9 August, after the previous owners ran into cashflow difficulties. Grays is now owned by Iveco Retail, a subsidiary of Iveco Holdings UK, which was set up in July to run retail outlets.
Nigel Emms, press and PR director at Iveco, was keen to stress that Iveco is first and foremost a manufacturer, and not in the practice of owning and running dealerships.