into administration, leaving 200 people without a job, and with
another 600 at risk.
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 PwC added, the main trading business and the company’s
15,000 vehicle fleet was “likely to be wound down over the next
five weeks”.
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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”.
The rental company had recently relaunched its contract hire
division, a move prompted by “rocketing demand” from customers, the
company said at the time.
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