BODYSHOP BOUGHT OUT IN PRE-PACK DEAL

Coseley-based bodyshop AF Smart Repairs Limited has been bought out of receivership by the existing directors in a pre-pack deal.

Insolvency practitioner SFP has successfully completed the sale to newco AF Accident Repairs Limited.

In 2017, the company suffered the sudden loss of their largest customer, losing up to 90% of their turnover. The business recovered, however, and took on new clients until at its peak, in 2019, the company turned over of circa £1.3m.

Unfortunately AF Smart Repairs was hit especially hard by the pandemic, as the lockdowns meant that there were significantly fewer vehicles on the road, which resulted in fewer accidents and repair work.

READ: HUNDREDS OF JOBS LOST AS NATIONWIDE BODYSHOP GOES INTO ADMINISTRATION

David Kemp and Richard of SFP were appointed as Administrators on 21 September 2021 and AF Smart Repairs Limited was subsequently sold to AF Accident Repairs Limited on the same day, which included the transfer of all 22 employees.

David Kemp said: “We are aware of how much the pandemic affected small businesses.  Seeking professional guidance can be crucial – as it was in this case – in salvaging the business going forward. We are pleased to see 22 people keep their jobs and look forward to seeing AF Accident Repairs taking on existing and new clients and continuing to keep drivers’ vehicles on the road.”

Published by Greg Whitaker

Editor of CAT Magazine and an experienced motoring journalist @GregWhitaker5

Autotech Group announces a host of leadership changes

Moves come as company transitions into a new phase under the leadership of CEO Simon King

Read More

Aftermarket firms that’ve failed to pay living wage named

One MOT centre owned employees more than £15,000; businesses were publicly named and shamed by the government

Read More

Movers & Shakers: Fueltone Pro brings in new addition

All the latest changes from across the sector, including new roles, promotions, and retirements

Read More

ELTA to stock Lucas bulbs at all Halfords stores

Pivotal factor of the deal saw all plastic packaging from Lucas and Halfords bulbs range removed

Read More

New grey area puts anyone who modifies a car at risk of prosecution

A workshop was recently found guilty of carrying out alterations to a car to make its exhaust louder

Read More

Go to comments

Your email address will not be published. Required fields are marked *