Job losses as Drive Assist UK goes into administration
- 11 December 2012
- From the section Stoke & Staffordshire
A Staffordshire-based firm which provides cars to people who have had accidents has made 259 people redundant after going into administration.
Drive Assist UK Ltd, which has its headquarters in Tamworth, employs 640 people at 14 offices.
Administrators said that included two other firms it owns, Sol Car Rentals in Tamworth, and Millennium Motor Group in Nottingham.
A total of 229 of the jobs were lost at its Tamworth sites.
A spokeswoman said 179 jobs had been lost from the Fazeley site, while 50 were going from the Ventura site.
The remaining 30 were going from its other locations across the country.
'Most appropriate steps'
Alastair Beveridge, from Zolfo Cooper, said administration was "the only option available" because the firm had lost a major customer which "had resulted in increasing cash flow pressures."
He said: "We will be working alongside all stakeholders to determine the most appropriate next steps for the benefit of all creditors."
Drive Assist UK supplies cars on short-term hire to people after accidents, and Sol Car provides short-term car rental for private and corporate clients.
The Millennium Motor Group at Nottingham Auto Park, in Mapperley sells ex-fleet vehicles, administrators said.