Transflex Vehicle Rental Limited (07841788): administration
- Status
- Administration ended
- Administration began
- 2018-04-16
- Administrators
- Fiona Livingstone Taylor, Colin Peter Dempster
- Administrators' firm
- EY
- Formerly
- Lakeside House (No 128) Ltd
- Incorporated
- 2011-11-10
- Location
- Manchester
- Industry
- 77110 Renting and leasing of cars and light motor vehicles
Why it went into administration
- Cash flow / liquidity pressure
- Parent or group failure
- HMRC / tax arrears
- Sustained trading losses
- Competition / price pressure
- Loss of a key customer, supplier or contract
From the administrators' statement
The Company. incorporated in January 2012, was a leading provider of commercial vehicle hire, sales and services across England with a head office in Stockton, and other bases in Buckingham, Manchester and Bristol.
The Company rented out a fleet of around 3,500 vans and cars to a broad customer base across a diverse range of sectors. These vehicles are subject to finance vehicle contracts ("FVC") in favour of a number of lenders.
Equistone Private Equity (‘EPE”) acquired a majority stake in T.O.M Group Limited (‘TGL”) tn December 2016 which subsequently enabled the acquisition by TGL of the Company in August 2017.
Administrators' statement of proposals (2018-06-02) · Companies House register