The sudden closure of LSUK by Euro Car Parts at the beginning of this week seems a bit strange.
ECP has claimed that it went on LSUK’s word that the business was doing fine, when actually it was in a bad state.
But for such a massive takeover, it seems incredible that ECP was not more diligent before making such a big move. Trusting the word of a company and not carrying out due diligence? Not wise in the business world of today.
What is clear is that one of ECP's major competitors is no longer trading and 550 staff are out of a job.
Where do those people go from here? And what is the future for ECP?