Automotive aftermarket distribution network, National Parts, was placed in Voluntary Administration on Tuesday February 12.

Accountants Craig Shepard and Leanne Chesser of KordaMentha were appointed by the Directors of National Parts as Voluntary Administrators of the independent wholesaler pursuant to Section 436A of the Corporations Act.

Due to the financial position of National Parts, it ceased trading immediately and all staff members were stood down pending a possible sale of the business.

The Administrators were seeking the immediate sale of National Parts and the Autopro marketing group as Automotive Aftermarket magazine closed for press. Advertisements were placed in the Financial Review on the day after the Voluntary Administrators were appointed.

National Parts is Australia’s largest independent parts wholesaler with revenue of $116 million in FY07.

It has six distribution centres around Australia; a national network of 144 member-owned Autopro stores; and assets including a stock range of 120,000 products and 200 brands.

Creditors, suppliers and customers wanting further information should contact National Parts on (03) 8791 2700 or Michael Scanlan of KordaMentha on (03) 8791 2700. Further particulars of the Administration will be placed on the KordaMentha website, www.kordamentha.com

Any parties requiring details of the sale process, or those who may be interested in acquiring the assets of National Parts, should contact Nick Gill on (03) 8623 3373 or ngill@kordamentha.com