As widely expected for the last two weeks, it has been confirmed that Klarius Group today entered into administration.
There is no further information at the moment, but a statement from Klarius/KPMG is expected soon.
QH brand owners Klarius Group Limited filed an intention to appoint administrators at Manchester High Court at the end of January in a bid to resolve its financial situation.
The filing gives Klarius ten working days of protection from new or pending legal action from creditors, and also removes unsecured debt from the company.
Further ten day extensions are possible, but if a solution to the company’s financial situation cannot be found it will enter into administration.
Klarius Group is late in posting its accounts to the end of 2011 and it remortgaged last October. It’s last accounts, filed in October 2011, showed it made a loss of £976,155 in 2010 compared with a loss of £2,046,126 in 2009.
Two other Klarius companies have also been formed, both on December 13, 2012 – Klarius Machine Tools and Klarius Products Limited.
Klarius Group Directors Tony Wilson, Paul Hannah and Dave Cheetham are the Directors of the two new companies
Klarius Group has so far not made any comment on what plans it may have for the new companies, or what prospects it is exploring under its intention to appoint administrators.
Public Relations firm Citypress is acting for KPMG which has been connected to Klarius as possible administrators.
It has confirmed that the intention to appoint administrators was filed at the end of January, and said a statement is likely to be made mid-afternoon today on the outcome of several scenarios that are being considered.
Tony Wilson formed Klarius in 2007 and bought the QH brand in 2010.
Tragic news that the company who created the concept of the aftermarket in the UK around 60years ago is no more. My heart goes out to my many ex- QH & Klarius-colleagues who are now left with an uncertain future.