MEATH CAR dealership McKeon Motors closed its premises in Kells yesterday until further notice amid fears for the jobs of an estimated 50 employees in the firm. The company holds the franchise for BMW and Mini, along with Opel, Mitsubishi and Kia.
BMW yesterday took possession of new cars ordered through the dealership and said they have contacted customers about alternative delivery arrangements.
The dealership was set up by Micheál McKeon in 1980, taking on the BMW franchise in the mid-1990s. In recent years it redeveloped its two showrooms in Kells town centre. In its last filed annual accounts the firm recorded a loss on ordinary activities before tax of €586,138 up to September 30th, 2008. The accounts show several financial institutions hold personal guarantees from Mr McKeon, including €2,725,000 to AIB, €500,000 to Lombard Ireland and €100,000 to National Irish Bank.
Mr McKeon is also a director of Emdan Developments Ltd, which has carried out construction work for Aldi, along with other projects in Kells, including the local town hall and swimming pool.
The motor industry has suffered significantly in the recession, with an estimated 10,000 job losses last year and over 70 garage closures. However sales have recovered since the introduction of a scrappage scheme, with national new car sales up 45 per cent on last year to 67,846 by the end of June.
Attempts to contact McKeon Motors last night were unsuccessful.
