Douglas-based Mylchreests has announced it will be closing after six decades of serving Isle of Man customers.
The company first opened on Westmoreland Road 64 years ago and most recently represented the brands Jaguar, Land Rover, Vauxhall, Subaru, Mitsubishi and Isuzu.
The family-run company’s managing director James Mylchreest said the business has talent and the difficult decision to close due to the “increasing challenges of running a small franchised operation”.
Chairman David Mylchreest said the decision was made with “extreme reluctance and a heavy heart”.
James Mylchreest said: “The retail motor industry has changed hugely over the past decade, during which time we have witnessed the closure or streamlining of a number of smaller independent garages and family-run businesses throughout the Island and the UK.
“This is a trend that we anticipate will continue for some time and one which makes a small, franchised operation such as ours increasingly challenging. As a result, we have taken a realistic long-term view and plan to readapt accordingly.
“Naturally our current priority is to support our colleagues in the best way we can and ensure our valued customers receive any assistance they may require.”
Mylchreest expressed gratitude for the loyal support of the company’s staff, suppliers and customers and also thanked the wider Isle of Man community for their friendship over more than 60 years.
While the parts, sales and serving operation will close, the business will continue with its car rental business at the Island’s airport at Ronaldsway, alongside “other property interests and operations”.