Covering the Goulburn and Murray valleys

Toyota sale not yet finalised

The sale of Benalla and Mansfield Toyota is drawing closer, after the business went into receivership in November.

MONIQUE FREER January 29, 2014 11:51am

In the balance: The sale of Benalla and Mansfield Toyota is getting closer.

The sale of Benalla and Mansfield Toyota remains in the balance as details and conditions are finalised with the highest tender.

Hedge and Associates Pty Ltd manager Des Stirling said the business was working with the highest tender to finalise the sale.

‘‘We’ve got three condition precedents that have to be met and until those are met —and there’s no guarantee those three can be met by the highest bidder who we’re currently working with — we can’t assume that they’ll be the buyer,’’ Mr Stirling said.

Benalla and Mansfield Toyota went into receivership on November 18, and Peter Hedge was appointed as receiver and manager.

His colleague Mr Stirling said the staff had been advised who offered the highest tender.

‘‘We have advised the staff who the highest bidder is but they also know that that could all fall over and we could be having to deal with the second or third-highest bidder,’’ he said.

Mr Stirling told the Ensign earlier this month the business would retain all its staff, and would remain a Toyota franchise.

‘‘The only way they can continue the business is as a Toyota franchise with locations both in Mansfield and Benalla,’’ Mr Stirling said.

‘‘Under the contract all staff will be employed under their current terms and conditions.’’

Up to 20 staff are employed at the Benalla and Mansfield Toyota dealerships.

Former dealer principal Travis Mullavey purchased the two Toyota dealerships in 2010, relocating from Warrnambool.

The businesses sponsored several local sporting clubs and community groups in both towns.

Benalla Toyota was the naming rights sponsor for the Benalla Toyota Benalla Gold Cup, and was a major sponsor at Benalla Saints and Benalla All Blacks football netball clubs.

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