45 jobs to go as Black Country car dealer shuts
Forty-five jobs are set to be lost in Oldbury after banking giant Lloyds announced it would axe its car sales operation.
The Lex Autolease site in Churchbridge will close, leaving the vast majority of staff facing redundancy.
Only five of the 50-strong workforce are set to be taken on by British Car Auctions (BCA), which is to take over part of the operation.
Lex Autolease was created in 2009 following the merger of HBOS-owned Lex Vehicle Leasing with Lloyds TSB Autolease. It is the UK's largest vehicle leasing business with a fleet of about 270,000 vehicles.
Another 50 jobs are set to go at its other base in Coventry, which only opened two years ago following a multi-million pound investment.
Lloyds spokesman Ross Duncan said: "We have taken the decision to close our retail sites in Coventry and Oldbury, and to outsource the remaining elements of our vehicle remarketing operation within Lex Autolease to BCA.
"This follows extensive work to consider future options for our vehicle remarketing activities, and supports our strategic aim to focus on growing our vehicle leasing business."
