Leaseway Vehicle Rental, one of the UK’s largest privately owned
light commercial vehicle fleet hire businesses, went into
administration today (1 December) – prompting an immediate
flurry of interest from other industry players.
The company, which operates from Glasgow, Newcastle, Leeds,
Manchester, Birmingham and London, was set up in 2003 and has grown
steadily since. It currently runs a fleet of around 13,000
vehicles, with 255 employees and a wide spectrum of customers from
sole traders to large corporates.
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Bruce Cartwright, Laurie Manson and Ian Green of PwC have been
appointed as joint administrators of the company. Bruce Cartwright,
PwC’s head of business recovery services in Scotland, said: “We are
seeking a buyer for some or all parts of the business – and
immediately, we’ve seen an unusual and surprisingly high level of
interest from the trade. Of course, at this stage, we can’t be sure
whether potential purchasers are interested in buying particular
depots, or the whole business, or particular contracts and the
fleets that go with them.
“We will shortly sign up confidentiality agreements with the
interested parties, so we can provide them with more information
about the business. And then, at the appropriate time, we’ll ask
for indicative offers. We hope to identify interests that will
protect as much of Leaseway’s business and employment as we
can.”
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