Motor World, the motor accessories retailer, has been sold out of administration to Pacific Retail.

The deal was funded by Cardiff-based private investment company Bailey Capital, which also owns parts distributor Maccess.

Motor World closed 95 of its 237 retail stores last month after appointing BDO Stoy Hayward as administrators. The closures resulted in 300 redundancies but the sale of the remaining 142 sites has saved 500 jobs.Little is known about Pacific Retail. AM’s calls to Bailey Capital have not been returned.

Motor World went into administration after suffering a significant downturn in retail sales on the high street which had led to a considerable number of its retail units trading at a loss.

Dermot Power, business restructuring partner at BDO Stoy Hayward, said: “Despite a strong trading name and presence on the high street, Motor World has been a direct casualty of the current retail difficulties and the continuing squeeze on available credit.” 

The collapse is a far cry from the ambitious expansion plans of Motor World’s managing director David Hudson to grow his retail network to 340 sites before 2010.

Hudson has failed to return AM’s call. The Motor World website and head office telephone line in Stratford-Upon-Avon was disconnected.