CAMBRIDGE, England, Dec. 24, 2019 /PRNewswire/ -- Cambridgeshire based motorhome hire company goes into administration with the loss of 60 jobs at its head office and various branches throughout the country.
Antony Batty and Hugh Jesseman of London based insolvency practitioners Antony Batty & Company were appointed Joint Administrators of Unbeatable Hire Limited on 23 December 2019. They are trying to establish the true extent of the financial situation and are also actively seeking a buyer for the whole or part of the business:
"According to the director, whilst trading for 2019 was up over 30% on previous years, the tightening of credit risks and the financial impact of two major fires during 2019 had an adverse effect on the UK business. Despite our efforts to find a way forward with our stakeholders and banks, a solution could not be found in time.
"I am unreservedly sorry for the investors and other creditors, customers and our loyal staff at this difficult time of year. After 80,000 hirers in the last 18 years, it's a huge shock to see it come to this."
SOURCE UnbeatableHire Limited