Nationwide Accident and Repair has called in the administrators as pressure on the business had mounted during lockdown.
However, the administrators, Price Waterhouse Coopers, agreed the sale of the majority of the group’s business and assets to RunMyCar Limited, a subsidiary of Redde Northgate plc, safeguarding almost 2,350 roles across 80 sites including repair garages and back office functions.
However, 540 roles have been made redundant as 30 sites were closed.
Rob Lewis, joint administrator at PwC, said: “As with many other businesses, the group had to weather major financial fallout due to the economic impact of COVID-19, which meant that trading volumes were significantly reduced. Against that backdrop, the sale announced today reflects a significant positive outcome for the business, and we are especially pleased to have safeguarded 2,350 roles including apprentices, mechanics and technicians.
“Sadly we have had to make 540 staff redundant. We are making every effort to support those workers. This includes providing guidance for employees regarding JobCentre Plus and Redundancy Payments Service processes.”
Nationwide Accident Repair Services’ history can be traced back to 1969 as the bodyshop division of Harold Perry Motors (later Perry Group) before formally adopting the Nationwide name in 2001.