Pendragon, the UK’s largest dealer group, is “back from the brink” and looking to a “bright future” characterised by ‘less arrogance and more humility’ as it celebrated its 20th anniversary in business.
The company marked its birthday with 350 high-powered motor industry and financier guests at a special dinner at London’s Landmark Hotel.
Chairman Nigel Rudd admitted that the fallout from the economic downturn had been the worst he’s experienced. He said: “I’ve never seen a business implode so quickly.”
Pendragon has already closed or sold 53 dealerships as well as removed more than 3,000 jobs in a £60 million cost reduction programme.