Midlands automotive supplier enters administration

A MIDLANDS-based automotive supplier with a turnover of £20m has entered administration.

Hex Holdings, with operations in the East and West Midlands, supplies paint, consumables, equipment, tools and panels to the refinishing industry.

The company is thought to have been a victim of the decline in the number of cars being sold in the UK and the economic climate in general.

Headquartered in Leicestershire, the company was established by Nigel and Adena Hecks in 1970 and since that time expanded into Nottinghamshire, Warwickshire and the east coast.

Acquisitions have seen the company expand into the West Country, South Wales and East Anglia, giving it a national footprint of 14 depots and sites.

With a staff of 200 and a turnover of more than £20m, the firm is one of the largest independent automotive refinish distributors in the UK.

Matt Ingram and John Whitfield, partners at corporate restructuring firm MCR, have been appointed joint administrators.

Mr Ingram said: “The auto industry as a whole is a crucial part of ‘UK Plc’, contributing £8.5bn added value to the economy. However, there is no doubt that the supply chain throughout the sector is still feeling the cold reality of the broader economic climate both here and abroad.

“We can confirm that at this stage the business is continuing to trade whilst a buyer is sought.”