IN'n'OUT 'investing millions in cross-country expansion'

- 13th January 2009

Automotive servicing group IN'n'OUT has raised millions to fund a nationwide roll-out of new centres, it has been revealed.

The firm is to invest a total of £12 million in land and buildings, with £6.5 million being provided by developer partners and landlords through land and the financing of construction costs.

Some £3.8 million has so far been subscribed for the plan, which will see ten centres constructed and opened by June 2009, with the balance due to be taken up early this year.

IN'n'OUT created a £5 million loan note issue in August 2008 for the specific purpose of financing these new centres and the scheme was put into motion during summer last year.

Earlier this month, automotive repair manual publisher Haynes stated that battery failure is the number one reason motorists call a breakdown service and is one of many common faults caused by a lack of basic maintenance.

The group went on to say carrying out simple tasks such as replacing wiper blades and light bulbs, checking tyres, and monitoring engine oil and coolant levels can save motorists large amounts of money on car repairs.