IAN Diffen World of Tyres & Mufflers has been sold to Victoria-based automotive retailer and wholesaler The Tyre Factory.
Ian Diffen has five company-owned stores in WA and 11 in Queensland.
These too will continue to operate under the Ian Diffen name.
The jobs and entitlements of the company’s 100 employees will also be preserved.
The company was put into voluntary administration under the control of Ashton Read shortly after the death of its founder and namesake Ian Diffen several months ago.
A meeting will be held on October 8 for creditors of the Ian Diffen holding company Exuma.
Negotiations to secure the sale of Ian Diffen to TTF have stretched on for the past three weeks between Ashton Read and TTF.