Losses bite at Ageas Retail after Kwik Fit closure
Shutting the Kwik Fit Glasgow office cost the business £27.2m.
The cost of closing its Kwik Fit brand Glasgow office pushed Ageas Retail into a loss of £25.2m for the year ending 31 December 2016.
The figures, reported to Companies House, showed that it cost Ageas Retail £27.2m to close the Glasgow office in Uddingston in a move that put 521 jobs at risk.
The directors described this as a “one off expense” for the broking arm of Ageas UK.
Revenues
According to the results, revenue for Ageas Retail fell to £116.0m (2015: £139.7m) and the business made an
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