Tom Scott hopes to keep 200 jobs at the dealerships
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The new owner of the Jersey-based Five Oaks garage chain says he has had to cope with large debts he has inherited from the former owners.
Tom Scott of the Jacksons group has already taken on the Volkswagen and Audi dealerships on both Jersey and Guernsey and is in negotiations with other car franchises.
He has had to consolidate more than £1m in unpaid debts and at least 50 jobs are to go across the Channel Islands as a result of the takeover.
The garages in St Peters in Jersey and St Martins in Guernsey are due to re-open on Monday, with the hope of opening more of the garages later in the week.
Mr Scott also said he hopes to honour deposits paid for cars and warranties on vehicles recently sold.
He said: "We will be taking responsibility for people who have paid a deposit on a new car.
"But where a person has had a car on finance, that is for them to sort out with the finance company."
Jacksons has taken over Five Oaks' 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.