Approach (UK) ltd with dealerships in Andover and Salisbury is the second Vauxhall dealership to go into administration in the last week.
Previously, Stevens, the two-site Vauxhall, Network Q and Chevrolet dealer in west Sussex went into administration after attempts to find a buyer failed. Smith & Williamson were appointed as administrators.
Stevens, sponsored by Vauxhall, had been running at a loss for some time and the manufacturer - also a shareholder since Stevens' founding in 2000 - said it has provided "significant funding" to try and turn the business around.
In a statement Vauxhall said: "Due to the current economic climate, notice of intention to appoint an administrator has been given in relation to Pearl (Crawley) Ltd (Stevens' legal entity).
Stevens has sites in Horsham and Crawley. It sold around 2,000 new and used cars and vans a year and was established in 1963.