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PwC administrators sell Autocare UK to Paragon Automotive

PricewaterhouseCoopers, the administrators of failed automotive logistics group Autocare UK Limited, has announced the sale of the business and assets to Paragon Automotive.

The sale will save 170 jobs and the business will continue to serve the existing customer base from its operational locations in Immingham.

The administrators were appointed to three Autocare companies - Autocare UK Ltd, Autocare Distribution and Autocare Holdings - in the week beginning September 19.

Although Autocare UK has now been successfully sold, the other two operations are in the process of being wound up.

PwC was called in a year ago to take over the affairs of the then Richard Lawson Auto Logistics, and Autocare Group emerged with a take-over deal that appeared to have saved the majority of jobs across the UK.

The exercise has already led to the loss of a number of jobs, mainly drivers, from Autocare premises in Dundee, but it is understood that many have been taken on by other distribution companies which have taken over contracts. Paragon Automotive has not yet released a statement giving details of its plans for the new acquisition.

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