PT Hire Limited (07311394): administration
- Status
- In administration
- Administration began
- 2024-10-07
- Administrators
- Ian James Corfield, Richard Bloomfield, Nathan Jones
- Administrators' firm
- FRP Advisory
- Formerly
- Professional Trailer Hire Limited
- Incorporated
- 2010-07-12
- Location
- Norwich
- Industry
- 77120 Renting and leasing of trucks and other heavy vehicles
Why it went into administration
- HMRC / tax arrears
- Rising costs / inflation
- Loss of a key customer, supplier or contract
- Bad debts / customer insolvency
- Sustained trading losses
- Rising interest rates
From the administrators' statement
The Company was incorporated in July 2010, initially known as Professional Trailer Hire Limited and operated as a UK rental and leasing business focusing on providing quality trucks and trailers, mainly to logistics companies. The business was initially run by Nicholas Badger and Stuart Dytham offering flexible hire periods between one day and annually to cater to individual customers’ needs.
In 2013 the Company changed its name to PT Hire Limited and grew successfully. By 2021 the Company had turnover of c.£6.4 million and a profit after tax of £280,000 and a turnover of c.£9.2 million with a profit after tax of £135,000 in 2022.
Administrators' statement of proposals (2024-12-04) · Companies House register