UK car and van hire business 1car1 has gone
into administration, leaving 200 people without a job, and with
another 600 at risk.
into administration, leaving 200 people without a job, and with
another 600 at risk.
The Leeds-based firm, registered as Local
Contract Hire and Leasing, was the largest independently owned car
and van rental company in the UK, operating from 87 sites around
the country.
Contract Hire and Leasing, was the largest independently owned car
and van rental company in the UK, operating from 87 sites around
the country.
PricewaterhouseCoopers, which was appointed joint
administrator to the company, said in a statement it is “working on
strategies to salvage value from the business”, but added that the
main trading business and the company’s 15,000 vehicle fleet was
“likely to be wound down over the next five weeks”.
The administrators have blamed the downturn for the company’s
collapse, and the tightening in available credits, which has
meant that “replenishment of the vehicle fleet has been difficult
to fulfil”.
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