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Sancho Panza

Unipart Automotive-Has Gone Into Administration With The Loss Of More Than 1,200 Jobs

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MSN 24/7/14

'Based in Solihull, the company operated 80 branches and distribution hubs trading as Unipart Automotive, Partco Autoparts, and Express Factors.

Following the appointment of administrators from KPMG, part of the business was sold to Andrew Page and The Parts Alliance, saving 33 branches and 361 staff.

But KPMG said the r emainder of the Unipart Automotive business has ceased to trade and 1,244 staff have been made redundant.

KPMG partner Mark Orton said: "Unfortunately, the business had been experiencing financial stress for a number of years, so the level of cash and further operational restructuring required to rescue a more substantial part of the business posed too much risk for most interested parties."

Unipart Automotive, previously known as Partco, was sold by Unipart Group in 2011 and was under the control of H2 Equity Partners prior to the collapse.

Unipart Group, which is employee-owned and specialises in logistics and the manufacture of components for the car industry, has an equity stake in Unipart Automotive but exercises no control over the business.

Its chairman and chief executive, Jo hn Neill, said: "We are saddened by the Unipart Automotive situation and, even though we sold control of this business years ago, we are concerned for the future of the employees."

He said the business worked "constructively and collaboratively" with Andrew Page in order to save some of the branches and jobs.

Mr Neill added: "They have a strong reputation for selling high-quality products and brands and we look forward to making available a supply of high-quality Unipart-branded products to Britain's car owners and Unipart Car Care Centres."

Andrew Page, which has 93 branches and more than £170 million in turnover, is a member of The Parts Alliance, a buying and distribution group.

Around 200 members of staff have been retained to assist the administrators.

Mr Orton added: "Our team of employment specialists will be supporting all staff on completing redundancy forms and putting them in touch with job seeker services.

"We will now be reviewing what options are available for the remainder of the business, such as selling leasehold interests."'

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Impressive, 3.2% economic growth and large companies going bankrupt.

Still if they get into BTL with the redundancy money they can boost GDP via imputed rent. Truly great news for the British economic ponzi.

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Interesting. When I did business with Unipart in the mid 00s they were a well run company doing well. What happened? Well it turns out Unipart Automotive was sold off, the main part of the unipart business is still going strong. From their website:

We were saddened to hear that Unipart Automotive, the company we sold in 2011, has gone into administration. Recent press coverage has confused Unipart Automotive with Unipart Group. It is important to note that Unipart Group and Unipart Automotive are different companies.

Unipart Automotive, the branch network which was previously known as Partco, was sold by Unipart Group to H2 Equity Partners in 2011. Unipart Group retained an equity stake, but a condition of the sale was that Unipart Group exercised no control over the business. Unipart Automotive was granted a restricted licence to use the Unipart brand on a limited range of wholesale outlets and a tightly controlled range of automotive car parts.

Who bought in 2011? H2. Asset stripping w*ankers.

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I wonder what that will do to the value of a lot of old classic british cars which use unipart spares? Is theres anything thats not covered by replica parts?

The manufacturing and distribution is still going, it's just the shops. Look on eBay for your parts or mick's garage they will stock them.

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There will have been a short, quiet chuckle coming from Maggie's grave. There's very little of the former British Leyland entity she didn't manage to finish off and the Unipart name will have festered with her for years.

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Impressive, 3.2% economic growth and large companies going bankrupt.

Still if they get into BTL with the redundancy money they can boost GDP via imputed rent. Truly great news for the British economic ponzi.

That's how capitalism works. Some companies must always be going bust.

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I am rather surprised, but there are other car parts distributors!

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My dad amongst others helped keep Unipart profitable in the late 80s and 90s by buying spares for his crappy MG Maestro. :lol:

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