A Nottinghamshire firm that supplies parts to Range Rover and Aston Martin has been rescued after falling into administration. .
However, a deal has now been concluded to sell the stricken company to a new owner, which is expected to save most of the jobs at the manufacturer. Bristol-based Avon Group has now agreed to take on the trade, assets and staff of the £8 million turnover firm, which had been struggling to recover from the impacts of the pandemic and the subsequent volatility of the automotive sector.
Interflex will continue to operate from its 32,000 sq. ft premises and it is anticipated that most of the company’s staff will be retained under the new ownership, Avon Group explained. Interflex's most recent financial accounts suggested 32 people worked for the company in the last financial year.
Avon Group, which already operates a similar larger business based in the West Midlands, added it shared some of Interflex's customers. Mr Thomas added: “Our business has huge synergies with Interflex. This acquisition is not only good news for Interflex but good news for our Group as a whole, as we continue to expand."
Benjamin Wiles, of advisory firm Kroll, had earlier been appointed as Interflex's administrator. The firm mainly produces parts and accessories for vehicle interiors, which according to its website includes Bentley, Land Rover, and Aston Martin cars as well as LEVC taxis.