CORK-BASED motor dealership Johnson & Perrott more than halved its pre-tax losses last year, according to accounts filed with the Companies Office.

TURNOVER at Johnson & Perrott fell by 20% to €115.3 in 2008 from €144.7m in 2008, according to figures filed with the Companies Registration Office.

TWO out of five companies had to borrow to pay spiralling insurance premiums last year and more than one in ten fired staff to divert cash to insurance costs, it emerged yesterday.