The move will help to extend the highly successful franchise model currently in operation in Northern Ireland, Scotland and certain parts of England and has stopped the Management Buyout proposed by Retail Director Neil Burrows and his three team member from taking place.

Group Managing Director of Goodyear Dunlop, Mark Brickhill, states: 'Since announcing the plans on March 12th, there has been a high level of interest from ambitious businesses wanting to join us in investing in the future growth of HiQ. On the closing date (May 16th) we had more bidders than the total number of franchise regions. This puts us in a strong position to make choices that ensure we have committed franchisees on board who share our vision in strengthening the network.

'Over the next few weeks, we will carefully evaluate each bid to ensure each franchisee has a strong business plan to grow the network by winning and servicing new consumer and fleet business. These plans have to complement existing relationships that Goodyear Dunlop has with Approved Dealers and existing HiQ Franchisees in each region, again to maximise growth.

'The increased profile of HiQ through the title sponsorship of the British Touring Car Championship, and our long term commitment to the network, has played a major role in attracting quality franchise investment. Our skilled and experienced associates are a major contributor to the success of HiQ and the franchise route offers the best opportunity for our professional team members to progress their careers with a growing business.'

Published: 27 August 2008

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