Phoenix Vehicle Hire Ltd (07185531): administration
- Status
- Administration ended
- Administration began
- 2014-05-07
- Administrators' firm
- Begbies Traynor
- Incorporated
- 2010-03-10
- Location
- Birmingham
- Industry
- 77120 Renting and leasing of trucks and other heavy vehicles
Why it went into administration
- Loss of a key customer, supplier or contract
- Competition / price pressure
From the administrators' statement
Following the acquisition of the assets of WCR Vehicle Hire Limited (formerly WCR Rental Limited) via a pre-pack Administration in August 2010, Phoenix Vehicle Hire Limited (“PVH" and/or “the Company") provided, via a service contract or on spot hire, refuse trucks and heavy vehicles to local authorities and large national companies The Company operated from leasehold premises in the West Midlands and employed 16 members of staff
The Company hired 65% of its fleet from a wholly owned subsidiary, Municipal Specialist Vehicle Hire Services Limited (CRN 08497174) ("MSVHS’) and an associated company, Municipal Vehicle Supplies Limited (CRN 08518419) (“MVS") MSVHS held a finance agreement with Clydesdale Bank plc and MVS held a finance agreement with HSBC Bank plc The remainder of the fleet was leased directly by the Company from a number of other finance companies
With access to a fleet of 130 vehicles, annual turnover totalled £3m per annum
Administrators' statement of proposals (2014-07-01) · Companies House register