Ireland’s Modern Tyres invested £5.6 million in the establishment of a new division, Modern Wheel Solutions division back in May. The new business will be situated at a 81,000 square foot purpose-built factory in Carnbane Business Park in Newry.
While many of the names of the top 20 tyre retail chains will be familiar, the last year has seen the continuation of a number of so-called right-sizing and redistribution trends, especially at the bottom end of the top 15 between places (positions 11 – 15). At the same time, one or two medium sized retailers have grown significantly since the last survey, resulting in greater influence from this part of the market. At the same time as this, the total number of branches controlled by the top 20 chains continues to grow – pushing the balance of power further in the direction of those retail multiples.
Fermanagh-based tyre retailer Modern Tyres has announced plans to buy a depot in the Dublin area, continuing a recent expansion strategy within the business. So far details exactly which company it is have not yet been revealed. Modern Tyres is the biggest independent tyre retailer in Ireland, employing 200 people across 40 branches. Tyres & Accessories 2014 tyre retail survey found that – with 30 branches inside the UK – it is the ninth largest retailer in Britain.
Family-run business Modern Tyres has been named Northern Ireland tyre retailer of the year. Northern Ireland’s largest independent tyre retail chain, which is also the ninth largest in the UK, employs over 200 people in 30 depots across the province, and also has 10 depots in the Republic, after acquiring Hanover Tyres in July last year.The company will celebrate its 50th anniversary next year.
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Modern Tyres