Accident repair firm in administration

LANCASHIRE accident repair business Banks & Derbyshire has gone into administration after trading for nearly 50 years.

Administrators from the accountancy firm Begbies Traynor were appointed to the Preston company on Friday. They could not be reached for comment.

It is not known if they are attempting to rescue the business as a going concern or sell off its assets.

According to its most recent annual accounts for the year to September 30, 2008, Banks & Derbyshire had assets worth £1.54m and debts falling due within one year of £1.49m. Its auditor, the accountant Moore & Smalley said it was operating within its banking facilities and able to meet its debts as they fell due.

The company’s website said the business was founded 48 years ago by Bob Banks and Ronnie Derbyshire who built it up to become the “premier car repairer in the North West”. The founders sold out to owners Stuart McDonald and David Parkinson.

It added: “We will seek to secure a fair return on our investments through growth, the continuous development of our staff and specialised equipment and through flexibility and innovation, to meet the changing needs of our clients.”