Used car dealer Cargiant has confirmed it will close its huge dealership in London on April 24 after its owners were unable to “secure a viable future for the business”.
More than 500 people were employed at the company, according to its most recent statutory accounts.
Cargiant’s sprawling 46-acre site is located in Hythe Road in west London next to the HS2 interchange, which connects HS2, the Elizabeth Line, overland and other transport links.
Bosses at the independent car supermarket, which is ranked fourth in our ID10 of the UK’s largest independent dealers, said they have been consulting with staff over the closure for the past month.
Companies House records also show that Antonio Mendes, Cargiant’s managing director, ceased being a director of the company on February 27.
“It is with great sadness that we announce the closure of Cargiant’s retail operations,” the business told AM.
“This decision follows an extensive consultation process with our team, during which we carefully explored all potential options to secure a viable future for the business.
“We would like to sincerely thank our colleagues for their commitment, professionalism and the constructive way they engaged throughout that process.”
The company said that, despite its efforts, it had concluded that the business was no longer commercially sustainable in its current form.
Orderly wind down
It attributed this to a combination of factors, including a continued reduction in the supply of used vehicles primarily driven by the ZEV mandate and stagnating new car market, alongside rising operating costs and increasing complexity within the used car market.
It added that Cargiant had been a major part of the UK motor industry for more than 50 years, pioneering the used car supermarket model and growing to become the UK’s largest independent car dealership.
Over that time, it said it had sold more than one million vehicles and supported thousands of people in building careers in the motor industry.
“We are immensely proud of what has been achieved over that period, and we would like to express our sincere thanks to all our staff, past and present, as well as our customers, partners, and suppliers, for their loyalty and support over many years,” its statement continued.
The business said it will now move into a managed wind-down with remaining retail stock being sold over the coming weeks.
“Our aftersales operation, including an office support team, will continue beyond the closure of retail activity to support customers and ensure that existing commitments are properly fulfilled,” it said.
Valuable property
The value of the land is reportedly estimated at £100m, and last decade its founder and owner Geoff Warren had hoped to relocate Cargiant to north west London to allow for his planned massive residential and commercial property redevelopment.
When that plan failed, Cargiant then battled an attempt by the Old Oak and Park Royal Development Company to compulsory purchase its land as part of its own £1bn regeneration scheme, until a planning inspector ruled it out in 2019.
At the time Warren applauded the decision, stating: “Cargiant is a hugely important and thriving business and we have significant plans to grow our car processing plant, creating many hundreds more highly skilled jobs and also investing in a new Electrical Vehicle Centre to help Londoners make the shift towards electric vehicles.”
Warren, now a billionnaire and one of London’s largest landowners, founded Cargiant in 1976 and expanded its footprint over the years to make it into London’s largest used car dealer, stocking thousands of cars at any one time.
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In 2024 Cargiant implemented corporate restructuring to separate its business activities, which included a property rental business and property trading, into distinct entities. The property rental and trading businesses transfered to Every Space Limited and its business premises transferred to NW London Commercial Limited. Companies House shows Antonio Mendes is still a director of NW London Commercial and Eevery Space, which are owned by Geoff Warren.