Tag Archive | "administration"

BOSAL CALLS IN THE ADMINISTRATORS

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BOSAL CALLS IN THE ADMINISTRATORS


Preston-based emissions parts manufacturer Bosal has called in the administrators.

Julien Irving and Andrew Poxon of Leonard Curtis Business Rescue and Recovery will attempt to find a buyer for the firm, properly called Bosal Automotive and Industrial Components (BAIC) ltd. 

In January this year Bosal sold off its aftermarket tow bar and automotive carrier and protection system businesses to TowerBrook Capital Partners as part of a restructuring programme that the company had called ‘Grow-Fix-Divest’. At the time, the company boasted of a ‘sound financial position’ and said it was going to use the (undisclosed) proceeds to clear all senior debt and to invest in the exhaust division.

However, a notice in the London Gazette confirmed that administrators had been appointed on June 5th.

The company previously went into administration in 2013. At the time it blamed competition from Eastern Europe and long-lasting stainless steel reducing the frequency of exhaust replacements. It also blamed its own former employees, who took it to court over redundancy payments. The company later bought itself out of administration.

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PREMIER MOTOR FACTORS GOES INTO ADMINISTRATION


Walsall-based parts supplier Premier Motor Factors has gone into administration.

 Timothy Frank Corfield has been appointed as the official administrator, and an auction of the firm’s assets and stock will be held from February 26 through auctioneer Deeley Matthews..  

Stephen Doyle started the company (officially called Direct Wholesale Europe) in August 2008, right at the start of the recession. The company had a strong online presence, with eBay being a particular strength. However, recent feedback suggests that it struggled to fill orders in the past few weeks, and the administrator was called in just before Christmas.

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ECP – ANDREW PAGE LATEST: COMPETITION AUTHORITY DEADLINE TONIGHT

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ECP – ANDREW PAGE LATEST: COMPETITION AUTHORITY DEADLINE TONIGHT


 

The CMA (Competition and Markets Authority) has said that Euro Car Parts’ buyout of Andrew Page faces an ‘in-depth merger probe’, unless it ‘offers acceptable ways of addressing competition concerns’ by the end of today (Wednesday May 17).

ECP needs to come up with proposals to resolve the competition concerns. If it does not offer anything, or if the CMA is unable to accept undertakings offered, the merger will be referred for a ‘phase two’ investigation that is substantially more in depth and will take 24 weeks.

At the end of this period the CMA must rule whether the merger can go ahead, and if not, what can be done in the interests of a competitive market.

This follows from last year’s takeover of Andrew Page by ECP on the day that the former went into administration.

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LATEST: BRAKEWORLD IN ADMINISTRATION

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LATEST: BRAKEWORLD IN ADMINISTRATION


Leeds-based supplier Brakeworld entered administration on January 31. The company had been trading since 1986.

The independently owned braking and filtration supplier started as Blaze Glow Ltd in 1981, but changed name and business model in 1986 to become Brakeworld. At the time of closure, the company supplied over 7,000 lines and stocked brands including Japanparts, FTE and Sofima.

We’ll bring more info as we get it.

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COMPETITION WATCHDOG TO INVESTIGATE ANDREW PAGE TAKEOVER

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COMPETITION WATCHDOG TO INVESTIGATE ANDREW PAGE TAKEOVER


The Competition and Markets Authority is to probe the recent acquisition of Andrew Page by Euro Car Parts.

The case was opened on October 14, but no start or end date for the inquiry  has yet been announced.

Full details on the investigation, including the contact for any representations can be found on the CMA website here. 

 

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ECP PARENT ACQUIRES ANDREW PAGE NETWORK

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ECP PARENT ACQUIRES ANDREW PAGE NETWORK


A deal between Euro Car Parts’ owner LKQ Corporation and administrators from Price Waterhouse Coopers has resulted in ECP taking over the whole of the Andrew Page network, barring seven of its 109 branches, with immediate effect. Terms of the deal have not been disclosed, although a statement issued on October 3 explains that the agreement was a pre-packaged sale of the business and assets of Andrew Page ltd, Solid Auto (UK) and Colton Parts Company ltd.

The acquisition comes after months of speculation of the future of the Andrew Page business and follows from the revelation on Monday that the company had filed a notice of intent to appoint administrators at Manchester High Court.

In another statement, ECP’s CEO Martin Gray reassured staff by saying that the new owner is ‘committed to retaining all team members’ and that the Andrew Page brand will be retained. Mark Saunders will remain as MD of the company and both the Leeds head office and the Markham Vale distribution centre were included in the deal.

Mark Saunders said: “We are looking forward to working with Euro Car Parts and LKQ at an exciting time for the motor parts sector, which is undergoing consolidation throughout Europe.”

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ANDREW PAGE: STATEMENT FROM COMPANY

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ANDREW PAGE: STATEMENT FROM COMPANY


BREAKING: Andrew Page has issued the following statement in response to the earlier story.

“The management team of Andrew Page has been working with PwC to explore strategic options for the company, including a potential sale of the business. This process is near completion and the company expects to make an announcement soon.

As a precautionary measure the company filed a Notice of Intention to Appoint Administrators on September 22. This notice provides an initial period of up to 10 working days during which the team can focus on completing the sale process.

The company expects the sale process to conclude imminently at which stage it will be able to update all staff and customers”.

Further news will be posted as it breaks.

 

 

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ANDREW PAGE FILES NOTICE OF INTENT TO APPOINT ADMINISTRATORS

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ANDREW PAGE FILES NOTICE OF INTENT TO APPOINT ADMINISTRATORS


BREAKING NEWS: Andrew Page has filed a notice of intention to appoint administrators at Manchester High Court.

CAT has confirmed with the court that the notice, filed on September 22, lists PWC as the chosen receivers, but no statement from either parties has yet been made.

 

Updates will follow as soon as they occur.

 

 

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ADMINISTRATOR PUTS ‘DIPSTIX’ UP FOR SALE

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ADMINISTRATOR PUTS ‘DIPSTIX’ UP FOR SALE


The administrators of former garage comparison website Dipstix have published the following notice:

Nationwide comparison site which matches motorists who need car maintenance with garages is on sale by Metis Partners, the award-winning commercial intellectual property consulting firm.

Dipstix Limited (in Liquidation), which traded extensively in the North-West of England and featured in the Liverpool Echo, was an online aggregator for independent garages and was able to offer the services of more than 1,100 garages nationwide. Its website attracted approximately 18,000 unique views a month, of which 4,000 would turn into enquiries.

Incorporated in 2013, Dipstix had achieved significant investment.  In 2014 it raised £600,000 in a crowd funding campaign. With an estimated market size of 10 million customers, Dipstix had succeeded in attracting circa 10,000 customers since launch in 2013.  

The sale also reinforces Metis Partners’ expertise and reputation in technology asset sales, which includes the successful marketing of the IP assets of Ekos Global, Matchchat and Blinkbox Music.

The opportunity is expected to be of considerable interest to those operating in the areas of car maintenance comparison sites; online aggregators; car e-commerce; comparison websites; and location-based services.

Nat Baldwin of Metis Partners, who is co-ordinating the marketing drive for the Dipstix assets, said: “Dipstix was among the pioneers in providing maintenance information to motorists and matching them to independent garages who were keen to carry out the work.

“The Dipstix site provided comparisons based on price of maintenance work, ratings and reviews as well as distance to garages. Dipstix’ revenue generation strategies included charging garages sign-on fees and collecting a percentage of the booking fee, as well as working with garages to offer additional services and products that could be sold on to clients.”

Assets linked to the IP asset portfolio include: a fully developed software platform with extensive software development documentation; customer and garage databases; goodwill in the Dipstix brand; branded domain names and website content; and unregistered trade marks.

All offers should be submitted directly to Metis Partners by noon on Thursday, July 14, 2016. 

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‘DIPSTIX’ UP FOR GRABS

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‘DIPSTIX’ UP FOR GRABS


The administrators of former garage comparison website Dipstix have published the following notice:

Nationwide comparison site which matches motorists who need car maintenance with garages is on sale by Metis Partners, the award-winning commercial intellectual property consulting firm.

Dipstix Limited (in Liquidation), which traded extensively in the North-West of England and featured in the Liverpool Echo, was an online aggregator for independent garages and was able to offer the services of more than 1,100 garages nationwide. Its website attracted approximately 18,000 unique views a month, of which 4,000 would turn into enquiries.

Incorporated in 2013, Dipstix had achieved significant investment.  In 2014 it raised £600,000 in a crowd funding campaign. With an estimated market size of 10 million customers, Dipstix had succeeded in attracting circa 10,000 customers since launch in 2013.  

The sale also reinforces Metis Partners’ expertise and reputation in technology asset sales, which includes the successful marketing of the IP assets of Ekos Global, Matchchat and Blinkbox Music.

The opportunity is expected to be of considerable interest to those operating in the areas of car maintenance comparison sites; online aggregators; car e-commerce; comparison websites; and location-based services.

Nat Baldwin of Metis Partners, who is co-ordinating the marketing drive for the Dipstix assets, said: “Dipstix was among the pioneers in providing maintenance information to motorists and matching them to independent garages who were keen to carry out the work.

“The Dipstix site provided comparisons based on price of maintenance work, ratings and reviews as well as distance to garages. Dipstix’ revenue generation strategies included charging garages sign-on fees and collecting a percentage of the booking fee, as well as working with garages to offer additional services and products that could be sold on to clients.”

Assets linked to the IP asset portfolio include: a fully developed software platform with extensive software development documentation; customer and garage databases; goodwill in the Dipstix brand; branded domain names and website content; and unregistered trade marks.

All offers should be submitted directly to Metis Partners by noon on Thursday, July 14, 2016. 

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