16 jobs go at failed Tipton hire firm
A Tipton vehicle hire company, which leased refuse trucks and other heavy vehicles to local authorities and national contracting companies, has been placed into administration with the loss of 16 jobs.
Phoenix Vehicle Hire, of Groveland Road, entered administration on May 7, with John Kelly and Kirstie Provan, of business rescue and recovery specialists Begbies Traynor, appointed as administrators.
Mr Kelly said: "Following the termination of a number of finance agreements prior to appointment, the company did not have access to a fleet of vehicles to service its customer base. As a consequence, the company entered administration and ceased trading immediately which has resulted in 16 employees being made redundant. "
Mr Kelly said that the main reasons for the business failure were a loss in turnover earlier in the year and high finance costs.
