Hurt by slowdown caused by pandemic the collision repair facility operator was placed in bankruptcy administration and sold. Sale includes 77 collision repair centers and three offices out of 110 total locations.
PwC announced that Nationwide Accident Repair Services (NARS) was placed in administration and subsequently sold to RunMyCar Limited, a subsidiary of Redde Northgate plc (LON:REDD), safeguarding almost 2,350 jobs across 80 sites including 77 collision repair centers and three back office locations. 540 jobs were lost at 30 sites that are being closed.
The business was acquired for an initial cash consideration of up to £11 million ($14
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