Kwik-Fit Ireland, which is in voluntary liquidation, had an estimated surplus of more than €149m after paying its creditors.

A general meeting of the members of the company is to be held in the office of liquidator Ernst & Young next month.

David Hughes of Ernst & Young called the meeting to "determine the manner in which the books, accounts and documents of the company and the liquidator should be disposed of."

Kwik-Fit Ireland, which is a 100% subsidiary of Kwik-Fit Europe, applied for a voluntary winding-up in December, 2006.

Its assets were made up of a bank balance of nearly €72,000 and debtors of nearly €149m. Its liabilities comprised just under €45,000 which were due to a combination of other creditors and fellow subsidiaries.

Kwik-Fit is owned by PAI, a European private-equity firm, and operates from almost 2,000 service points across Europe under a number of brands including Speedy in France, Pit-Stop in Germany and Kwik-Fit itself.

It is Europe's largest fast-fit services provider, operates an insurance brokerage business in Britain and was bought by PAI in 2005 for €1.16bn.

Kwik-Fit turned over €858m in 2007.