Deal saves store jobs

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MotorMania’s store at Intake, in Sheffield is among 11 outlets acquired by the Lancashire-based Tetrosyl Group, saving a total of 50 jobs.

Tetrosyl is the largest manufacturer and supplier of car care products and car care accessories in Europe and runs the Motor-World BikePlan chain of retail automotive and biking stores, which has four stores in South Yorkshire.

Tetrosyl chairman, Peter Schofield, said the stores it has acquired from MotorMania parent group administrators Grant Thornton, will add a further £5 million to his company’s turnover.

Mr Schofield added: “The MotorMania business is very well run and profitable, but could not continue to service the long-term property debt within the group.”

Tetrosyl has an annual turnover of around £170 million and employs more than 1,200 staff, mainly in the UK, but with subsidiaries in France.

It also has other long-term interests in many other countries, including Poland.