R Capital bid to rescue Unipart Automotive from the scrap heap

Unipart Automotive is the UK's largest independent supplier of car parts with 200 branches
Unipart Automotive, the car parts supplier facing imminent bankruptcy, may hope for a late reprieve as investment firm R Capital is believed to be looking to buy the company.

Sources say negotiations have been going on throughout the weekend with KPMG, the accountants appointed by Unipart Automotive, with a decision likely this week.

Unipart Automotive, formerly part of British Leyland, has been hit by poor trading recently, and funding became critical in July.

As well as R Capital, there are another two unnamed bidders still believed to be interested in Unipart Automotive, but Better Capital and Euro Car Parts are now less keen, according to The Sunday Times.

R Capital, a specialist in turning around troubled businesses, had previously bought the roadside restaurant chain Little Chef in 2007, before selling it to Kuwaiti Kout Food Group in 2013 for £15m.

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