Unipart Automotive has today denied it's going into administration. A spokesman for the company said: "we have no intention of doing so."
They made the statement after filing a notice of intent to appoint KPMG as administrators.
The move can give firms some protection in law during difficult trading conditions.
Unipart Automotive is based in Solihull and has 170 branches around the country selling spare parts for cars. It employs 1600 people.
A spokesman for the company said they had turned the business around and were within touching distance of going into profit. Under the previous owners, he said, the business had been loss making.
He said the firm is talking to three investors about putting more cash into the business