Last updated 05:38, Friday, 17 October 2008

THE administrators overseeing the affairs of the LSUK car parts chain have said the directors had no choice but to close it.

Closed down: The LSUK premises in London Road, Carlisle. The branch ceased trading early this week

By Phil Coleman

Bosses at Euro Car Parts say they realised they had no option but to close all 53 branches of LSUK – including one in Carlisle – after acquiring the company.

They insisted they took over the firm quickly in order to protect the chain’s 600-strong workforce.

But staff at the Carlisle branch in London Road turned up for work on Monday to find a notice pinned to the door saying the firm had ceased trading.

The locks on the building had also been changed.

Administrators Tenon Recovery said the Euro Car Parts management team was specifically chosen to look after the firm and worked tirelessly, speaking to the LSUK suppliers and staff.

A statement from the administrator said: “Unfortunately it became clear, very quickly, that it was simply going to be impossible to continue with investment without the required support, which was not forthcoming.

“With this in mind, Euro Car Parts have placed the acquisition company, ECP Logistics Limited (set up only for the acquisition of Pinco 1555 Ltd, known more commonly as LSUK and totally separate to Euro Car Parts Limited) into the hands of Tenon Recovery.

“Tenon are leading insolvency advisors, and they have been appointed to manage the administration.

“A freephone number has already been set up by the administrators for the current LSUK staff and they will be told what they need to do and everything will be done to help and advise them with regards to the situation.

“Euro Car Parts deeply regrets what has happened, but to continue any longer with LSUK, as it currently stands, was unfortunately a futile operation.

“The administrators are already in contact with several interested parties.”