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Carcraft, the chain of 11 car supermarkets, has undergone a management buy-out backed by Apollo Ventures.
Carcraft is to shed 49 of the 500 jobs at its car hypermarket in Rochdale, having failed to secure a site at the new Kingsway Business Park to expand the business.
Carcraft is recruiting up to 35 staff at its new national car sales call centre in Rochdale.
Carcraft is planning to relocate its Rochdale-based second-hand car supermarket and head office, including 500 staff, to the new Kingsway Business Park in 2008.
Carcraft is planning to build a £14m car warehouse on the Axis Business Park in Liverpool, with the creation of up to 300 jobs.
Carcraft is to set up a car supermarket in Wednesbury with the creation of about 200 jobs.