The decision to close Golden West Automotive is 'the best decision' at this time.
Dealer principal Michael Adams announced via their facebook page on Monday evening the business would close at the end of October, saying it was no longer "financially viable to continue".
"Due to circumstances beyond my control, namely the withdrawal of General Motors Holden from the Australian market, changes being introduced by Honda to the dealer arrangement and the ongoing affects of the COVID-19 crisis, I find myself in a position that it is not financially viable to continue to trade," Mr Adams said.
"Consequently, I have been forced into a position that the only option available to me, regrettably, is to close Golden West Automotive effective on the 31st October 2020."
Mr Adams told the Daily Liberal on Tuesday he was 'very sorry' they couldn't continue.
"We have had a lot of response, and a lot of support since the announcement, especially via social media. It's been quite overwhelming and people are sad to see it go, they are really feeling for us," he said.
"We are very sorry we can't continue, but this is the best decision for us, it's a voluntary decision, it wasn't forced upon us, and it's better that we close while we have control of the situation."
The principal dealer said he was currently "in talks with interested parties to take over the service and parts operation".
"I can't say anymore at this time, but we are working on making sure there is an ongoing service available," he said.
Golden West Automotive employs almost 40 staff who work across three manufacturers at the site - Holden, Renault and Honda - along with an auto paint centre.
"The staff have been great the whole way through. They have taken the announcement in their stride.
"The closure of Holden was a real kick in the guts for us, as this has been a very high performing Holden dealership. But it's through no fault of ours and no fault of the staff.
"The staff here are fantastic. They are still working hard, and it's just the same today, they are a really great team of people."
Mr Adams said all staff entitlements and creditors would be paid in full.
Mr Adams has been at the dealership for the past 20 years and said he is not sure what the future will bring.
"Personally it's a very difficult time as well. I've put my heart and soul into this business and for it to go this way is very tough.
"At this point we will close up, and then there will be a fair bit of work to do finishing up and closing up, and then I'll take a bit of a break and see what the next opportunity is for me.
"We will be in Dubbo for the next 12 months, and then after that, it depends what the future holds."
Golden West Automotive will close it's doors on October 31.
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