The shop, located on the corner of Lord Street and St Peter’s Place, shut down last Wednesday.

The company could not confirm how many jobs had been lost at Fleetwood but revealed that each store generally employed between three and four members of staff.

A significant downturn in retail sales on the high street was blamed for the company’s difficulties, with the fall in sales attributed to the so-called “credit crunch” crisis.

A large number of Motor World’s retail units had been trading at a direct loss.

In total 95 of the 237 retail units closed with the loss of 300 jobs.

Dermot Power, Graham Newton and Matthew Dunham, business restructuring partners at BDO Stoy Hayward were last week appointed as joint Administrators of the company.

Motor World Ltd is listed as one of the UK's largest independent automotive car care retailers, operating retail units across the country.

The company also specialises in additional products including cycles and other leisure accessories.

Despite the closures, the administrators have been successful in selling the remaining 142 units of the business to Pacific Retail Limited, a company funded by the existing investors Bailey Capital Limited.

This has resulted in saving approximately 500 jobs. Blackpool’s branch on Metropolitan Drive is among those still operating.

The business trades from a head office in Huddersfield.

Accountant Dermot Power said: "Despite a strong trading name and presence on the high street, Motor World Ltd has been a direct casualty of the current retail difficulties and the continuing squeeze on available credit."