Nidd Vale Motors in Harrogate have been placed into administration by Santander.
A Santander spokesperson said:
We have been working closely with Nidd Vale Motors to try to resolve financial issues.
However, after failing to reach a resolution, administrators have been appointed to look at the best options for the future of the company and its staff.
The business has been trading for 90 years and employs over 100 people.
The business continues to trade from their site on Leeds Road. The site has been sold to a developer with Marks and Spencer planning to open a new food store there next year.