DCSIMG

Louth jobs saved as Unipart Automotive goes bust

Business

Business

 

Unipart Automotive has gone into administration this week with more than 1200 employees being made redundant across the country - but jobs at the branch in Louth’s Industrial Estate have been saved after a different company decided to take it on.

The company has confirmed that the Louth branch will be transferred to Andrew Page Ltd, and all jobs at the site are safe.

Thirty-two other sites across the country have been transferred to Andrew Page Ltd and The Part Alliance.

Unfortunately, other nearby branches will be closing with immediate effect including Grimsby (four job losses), Lincoln (five job losses) and Boston (nine job losses).

Mark Orton, partner at KPMG and joint administrator, said: “Despite intensive efforts over recent weeks, a sale of the whole Unipart Automotive business could not be reached, and a buyer could only be found for 33 of the sites on a going concern basis.

“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.”

 

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