UNIPART AUTOMOTIVE FILES ‘NOTICE OF INTENT OF ADMINISTRATION’

Unipart_Logo_300pxComponent supplier Unipart Automotive is on the brink of administration, according to media sources. However, it is still possible that a last minute refinancing deal could be done.

Sky News reported that UA has filed a notice of intention to appoint KPMG to act as administrator following protracted trading difficulties. It reported that the company was hopeful of securing a rescue deal prior to KPMG’s formal appointment that would preserve most, if not all, of the 1,600 jobs. A deal could be struck before the end of the week, it added, although it was unclear where any new funding would come from.

KPMG have made no statement.

Published by GregWhitaker

Editor of CAT Magazine and an experienced motoring journalist

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