6 Feb 2009

Wellington car firm goes under

6:01 am on 6 February 2009

A long-standing Wellington car firm has gone under, the latest victim of the economic downturn.

Williams & Adams, a fourth-generation car dealership, has been put into liquidation as a result of a shareholders resolution.

One of the liquidators, John Fisk of PricewaterhouseCoopers, says the company was a victim of expansion while times were good that could not be sustained when things got tough.

Mr Fisk says the 115 staff at the company's 10 sites will continue working while the liquidators analyse the company's finances.

Williams & Adams is a Holden dealer and also handles brands such as SAAB, Jaguar and Land Rover.