Scottish auto industry entrepreneur Alan Revie has revealed that he paid only £2 million upfront to buy National Tyre Services from its German owners a decade ago, yet the business had almost £80m of property assets and £140m of tax losses at the time.
In an interview with The Herald, Mr Revie said he had intervened in late 2001 to stop multinational tyre manufacturer Continental selling off the business to a London-based company which intended to close down its 200 depots with the loss of 1300 jobs.
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