Modern Tyres has reached an agreement with the administrator to take over the Hanover Tyres business.
Gerard Murphy, of Gerard Murphy & Co, was appointed provisional liquidator to Hanover Tyres Limited in late June after the High Court had heard on June 21, a petition by Hanover Tyres Limited to have the company wound up in accordance with Article 3(1) of Council Regulation (EC) No. 1346/2000.
Modern Tyres has stepped in and a spokesman told the Tyre Trade Journal that it is their intention to safeguard as many jobs as possible and to strengthen the network.
Check out the full article in the Tyre Trade Journal, out next week.