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540 jobs lost after Nationwide Accident Repair Services goes into administration

Nationwide Accident Repair Services, and a number of its subsidiaries, has collapsed into administration with 540 jobs lost

 

Nationwide Accident Repair Services, and a number of its subsidiaries, has collapsed into administration with 540 jobs lost post

Rachael Wilkinson and Rob Lewis of PwC have been appointed as joint administrators of Nationwide Accident Repair Services and a number of its subsidiaries.

The business, headquartered in Witney, Oxfordshire operates a nationwide network of garages, servicing the accident repair market for a number of large UK general insurance firms.

Immediately following the appointment, the joint administrators completed a sale which included the majority of the group’s business and assets to RunMyCar Limited, a subsidiary of Redde Northgate plc, safeguarding almost 2,350 roles across 80 sites including repair garages and back-office functions. 

However, 540 roles have been made redundant as 30 sites were closed. 

Rob Lewis, joint administrator at PwC, said:

“As with many other businesses, the group had to weather major financial fallout due to the economic impact of COVID-19, which meant that trading volumes were significantly reduced.  Against that backdrop, the sale announced today reflects a significant positive outcome for the business, and we are especially pleased to have safeguarded 2,350 roles including apprentices, mechanics and technicians.

“Sadly we have had to make 540 staff redundant. We are making every effort to support those workers. This includes providing guidance for employees regarding JobCentre Plus and Redundancy Payments Service processes.” 

Rachael Wilkinson, joint administrator at PwC, added: 

“Companies across the automotive sector are still recovering from an extended period where activity ground to a halt, significantly depleting cash reserves. 

“Some are only reaching a fraction of pre-COVID-19 volumes despite reopening outlets. Consequently, the sector is set for a make or break rebalancing period over the next few months. Refreshed lending agreements, cash conservation and supply chain management will be key.” 

Sources:

www.mirror.co.uk

www.pwc.co.uk

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Owain Griffiths

Owain Griffiths

Head of Circular Economy at Volvo Cars

Owain joined Volvo Cars in June 2021 to lead Circular Economy in the Global Sustainability Team. The company has committed to being a circular business by 2040 and has financial, recycled content and CO2 based targets for 2025, all of which Owain is working across the company to make happen. Owain previously worked for circular economy consultancy Oakdene Hollins where he advised businesses on evidence led circular economy implementation. 

Turning into a circular business and the importance of vehicle reuse and recycling.

The presentation will cover the work Volvo Cars is doing to achieve 2025 but mainly focus on the transformational work towards 2040 and the business and value chain changes being considered. Attention will be paid to the way vehicles are being dealt with at the end of life and the complexities of closing material and component loops. Opportunities and challenges which Volvo Cars is facing will be presented including engagement with 3rd parties and increasing pressure from stakeholders.