The Unipart Group has released a statement on Unipart Automotive’s descent into administration and the partial rescue by a joint deal between Andrew Page and The Parts Alliance. While expressing sympathy for the company’s plight, the Unipart Group sought to delineate the boundary between the Unipart business units of which it remains in control and the stricken parts distributor.
Automotive parts business Andrew Page has rescued around 350 jobs, spearheading a deal with The Parts Alliance to takeover 33 branches of Unipart Automotive, which entered administration today. Andrew Page has taken 21 branches and The Parts Alliance a total of 12, with the terms of the deal as yet undisclosed. Andrew Page rejoined major UK and Ireland buying and distribution group The Parts Alliance following a six year absence on 8 July, coinciding with Unipart Automotive’s announcement that it had put the administrators on standby, a clear signal that some kind of move was on the cards. Tyrepress estimated Andrew Page possessed a growing share of the automotive parts market of around seven per cent at the time; the company will expect today’s news will help to grow that share quickly, having increased its existing network of 93 branches by 23 per cent.
If you would like the latest news from the Chinese tyre industry in Chinese, visit our partner site TyrepressChina.com. Or click below to continue on Tyrepress.