Hundreds of jobs hung in the balance today after Shipley-based car fitting giant Montinex was placed into the hands of receivers.

The receivers immediately announced plans to sell the huge nationwide operation as a going concern, saving as many staff jobs as possible.

Montinex, the owner of the Charlie Brown Autocentres chain, is the largest independent fast fit chain in the country, employing 840 workers.

Receivers Ernst & Young said they planned to continue trading the various subsidiaries with the aim of selling them as a going concern.

As well as the Charlie Browns chain, which has stores across the north, Montinex also owns the subsidiaries Chessington Tyres, Northway Tyres and Malvern Tyres in the south.

Its remaining arm, the fleet tyre management business FTM Ltd, is not in receivership and will continue to trade as normal.

Hunter Kelly, head of Ernst & Young's corporate restructuring team for Yorkshire, said: "Our plan is to continue to trade the businesses with the aim of selling them as a going concern, safeguarding as many jobs as possible."

He added: "Charlie Browns is a well recognised name, particularly in the north, while the Chessington, Malvern and Northway businesses have a substantial wholesale element and are also likely to be attractive.

"We have already had several serious expressions of interest and are optimistic about achieving a sale."

A spokesman for Ernst & Young said Montinex had found itself in trouble after borrowing heavily to buy other companies.

In April 1995, Montinex bought up the Charlie Browns Autocentres package in a £19 million deal. Three months later, it sold the retail operations side of the business to Bradford car accessory chain Motorworld.