All jobs saved as accident repair firm bought in pre-pack deal
A Long Eaton accident repair firm has been sold in a pre-pack deal that has seen all 27 jobs at the firm saved.
Lee Lockwood and Andrew Mackenzie of Begbies Traynor were appointed as administrators to accident repair specialist WG Newman (Garage) on 22 May. The business was immediately bought in a pre-pack deal by Pronto Care Midlands, saving all 27 jobs.
Established in 1965, the company provides specialist paint and body repairs and is also able to deal with complex high strength steel and structural work.
However, it recently saw a decline in turnover caused by more competitive market conditions, coupled with a loss of efficiency within the business.
A pre-packaged sale was agreed to Pronto Care Midlands, part of the Lovells Group which has auto repair sites across the Midlands. All 27 staff transferred to the purchaser.
Lockwood said: “After more than 50 years of trading, it is good news for employees, customers and suppliers that the business will continue to operate as part of a larger group. We wish them well.”
Nicky Calthrop-Own of Actons Solicitors acted for the joint administrators and Lemi McAuley of Shoosmiths acted for Pronto Care Midlands.