Mr Scott says he hopes to honour car deposits
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The Jackson's Channel Islands Motor Group has taken car dealerships on Jersey and Guernsey formerly owned by the troubled Five Oaks group.
About 250 jobs were under threat after garages owned by Five Oaks on both islands stopped trading last weekend.
But now businessman Tom Scott has said that he hopes to save 200 jobs and that two of the dealerships will be opening again on Monday.
Mr Scott also said that Jackson are to invest £7m and he also intends to honour deposits paid for cars and warranties on vehicles recently sold.
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Franchises cannot be sold, they are cancelled and have to be reapplied for
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The dealerships at St Peters in Jersey and St Martins in Guernsey are to re-open on Monday, with the hope of opening more of the garages later in the week.
Mr Scott said that although some branches are opening, the permanent closure of some garages may happen under rationalisation of the business, but that he and his colleagues are still in discussions with the car manufacturers.
There are four dealerships on Jersey at St John, St Saviour, St Peter and Trinity; and four on Guernsey at St Martins, St Andrews, Ruette Braye and Landes du Marche.
Mr Scott said: "We are talking with all the manufactures because franchises cannot be sold, they are cancelled and have to be reapplied for.
"We are in positive negotiations with them all. But until we have the franchises in place, we are limited on the people we can employ.
'Positive' view
"Of the 250 staff, if we are successful with the franchises, we hope to save 200 jobs."
Of the 50 people who will not be re-employed, the losses will be across the all the dealerships.
Mr Scott said: "It's a sad thing, but one has to look positively and it could have been a lot worse.
"We have had to convince the manufactures to stay on the island. If they didn't, then none of the jobs would be kept.
"Once the franchises are secured, then the warranties will be honoured.
"Deposits which have been paid, we must be in a position where we can honour those and that has been included in our negotiations."