Insolvency practitioners from the Leed’s office of Wilson Field have saved all 17 jobs at a Staffordshire car garage and workshop after it was bought out of administration.
Business turnaround and insolvency specialists from Wilson Field were appointed as administrators to Burntwood headquartered K&G Bodyshop Ltd.
The bodyshop business, which offered accident repairs, classic car restoration, custom paint work, had suffered cashflow problems.
Former director Michael Price-Darby has bought the business, based on Burntwood Industrial Estate. He bought it under MPD Trading preserving 17 permanent positions from technicians to administration staff.
Administrators from Wilson Field were appointed on 28 February with the sale completed on the same day.
The total value of the deal is undisclosed but includes the business and the assets of the company.
Kelly Burton, associate director at Wilson Field in Leeds, said; “We reviewed the situation, assessed the ongoing contracts held by the company, its viability and sold it as a going concern. Despite the economy still affecting many businesses, it is an excellent result when we can give a company a future and save jobs.”
The K&G garage name was established in the 1960s in Cannock by Ken Elwell and George Tabernor, and was formerly the main Peugeot dealer, with a reputation as the best body shop in the area for exceptional customer service and quality for vehicle sales, repairs and maintenance.