PracticeConsultingE&Y called in for a quick change at Montinex

E&Y called in for a quick change at Montinex

Ernst & Young was yesterday brought in as receiver to oversee the troubledWest Yorkshire Montinex company, the automotive fast-fit and tyre chain.

Joint administrative receivers Alan Bloom, E&Y head of corporate recovery, andLeeds-based Hunter Kelly said they are looking for a buyer for the Shipley-basedcompany to continue as a going concern.

The £86m turnover group, which owns the Charlie Browns Autocentres, is thelargest independent fast-fit chain in the UK and operates 144 retail outletsthroughout in Britain.

The future of 840 jobs now hangs in the balance.

Kelly said: ‘Our plan is to continue to trade the business with aim of sellingthem as a going concern, safeguarding as many jobs as possible.’

The administrative receivers said that there had already been several ‘seriousexpressions of interest’.

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