Montinex In Administrative Receivership
On Friday 4th August, the Montinex tyre retail group went into Administrative Receivership. Discussions with potential purchaser Stapleton’s Tyre Services broke down last month. The parts of the Montinex group in Receivership are Chessington Tyres, Malvern Tyres, Northway Tyres and Charlie Brown’s Autocentres, totalling some 144 retail outlets.
It is hoped to sell these as a going concern. Fleet Tyre Management is not in Receivership and is continuing to trade. Montinex turns over £86m annually and employs 840.