Shares in Lookers have fallen by nearly 75% during the last year, while those of Pendragon, which trades under brands including Stratstone, Evans Halshaw and Quickco, have slumped by almost two-thirds.
Physical car dealers are grappling with a complete collapse in business during the six weeks of the UK's lockdown, although some online dealers report that they are continuing to trade reasonably well. The FCA has intervened in the motor finance market since the coronavirus crisis began by attempting to buy consumers more time with repayment holidays.
"Initial indications have identified some operating divisions where certain non-cash balance sheet accounts have not been fully reconciled, in accordance with group policy.
What's this got to do with the people dying due to Coronavirus?
I dated a receptionist from one of their sites years ago. She was a looker.