Klarius, the automotive parts business, based in Manchester, has filed a notice to appoint administrators with KPMG lined up, putting more than 1,000 jobs at risk. This action gives the company 10 days protection from its creditors to find a solution.
Read our page on what a notice of intention to appoint administrators means.
The company is one of the largest European manufacturer of aftermarket car parts and makes 90,000 parts from five manufacturing plants - three in the UK, one in Spain and one in Germany - which employ 1,200 people.
The group has not filed annual accounts at Companies House since October 2011 when figures for 2010 showed a pre-tax profit of £23.3m on sales of £202m.
Last year Klarius was ranked sixth in a list of privately-owned manufacturers with the biggest international sales published in The Sunday Times HSBC International Track 200 report.