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 firm’s
collapse, with a tightening in available credits, which has meant
that “replenishment of the vehicle fleet has been difficult to
fulfil”.
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