CAIRNS will lose a generous community sponsor with the fall of the Pacific Toyota Group, business leaders say.

Close friends of the car dealership’s owner John O’Brien said he was "absolutely gutted" following a decision to place the company into receivership on Monday.

Former Cairns mayor Kevin Byrne, who was consoling the prominent businessman yesterday, said the news was devastating not just for the O’Brien family but also for the city.

"John is an extremely proud individual who has great pride in the achievements of Pacific Toyota and the situation will cut him to the quick," Mr Byrne said.

"The community sympathy should be with the O’Brien family and Pacific Toyota’s employees.

"I hope that a buyer can be found quickly and that the business can move forward with confidence because I know what that business means to the community."

Pacific Toyota has won several national dealer awards for its sales and service performance.

In 2006, Mr O’Brien, who also majority owned the embattled Cairns Taipans NBL team until it was placed in administration last week, was awarded a Member of the Order of Australia for his community service, which Mr Byrne described as "legendary".

"He spent close to a million dollars year in, year out for the community," Mr Byrne said.

"It was nothing for him to buy a wheelchair for disabled people.

"Cairns is losing a great benefactor, a tireless worker and someone who loves Cairns very deeply."

Former Cairns Chamber of Commerce president Bob Norman said he felt for Mr O’Brien.

"For so long he did lots of things for charities, not always publicly," Mr Norman said.

"I hope John doesn’t leave town because he’s a great community
supporter."

Member for Cairns Desley Boyle said the company’s demise showed the Far North was not immune to the global financial crisis and urged people to support Mr O’Brien.

"After all these years and all he has done for Cairns, it’s now the time for anyone who can give him some support to do so," she said.

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