Burntwood Accident Repair Centre, which went into voluntary liquidation last month with debts thought to total £2m, was this week on the verge of being sold to hire firm Prospect Group Europe.
Barry Garbett, Burntwood managing director, has a shareholding in Prospect, which trades from the same site in Walsall, West Midlands. Mr Garbett, a former chairman of nationwide independent bodyshop chain ABS, is confident of keeping the bodyshop in business.
Gary Baxendale of Poppleton & Appleby said Burntwood had suffered “trading difficulties” for some time, but was unable to downsize due to the cost of redundancies and the size of the premises.
“We now have an offer on board that we are considering which betters the for-sale valuation,” he said. “We are hopeful of reaching a decision regarding the salvage of the business this week.”