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HiQ, a tyre and vehicle service franchise, has sold two franchise territories as part of its ongoing national expansion. Business partners Phil Cowell and Robert Brown, who have more than 70 years combined experience in the industry, have purchased the Essex and Suffolk areas and now own outlets in Chingford, Grays, Ipswich, Wood Green and Bury St. Edmunds.

Additionally, Darren Haszczyn and his business partner Stefan Quinn, have bought the South Wales area, which incorporates centres in Llanelli, Cardiff, Chepstow, Hereford and Ludlow.

Darren said: 'As far as I'm concerned, there is no such thing as a credit crunch. I am so excited to take on these fast fit centres, and I can see no reason why business will not be great on all five forecourts.

'Obviously we are in the midst of some tough financial times, but I don't think that will stop this franchise being a resounding success on a number of levels.'Phil Cowell added: 'Business has never been better. In an age of economic difficulties, we seem to be bucking a trend at HiQ.

'Even though we are in the midst of a credit crunch, people are not buying new cars like they used to, and are instead turning to reputable centres like ourselves.'

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