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SFP appointed administrator for Chevron Autohire Limited PDF Print E-mail
Friday, 16 March 2012

SFP, the nationwide insolvency practitioners, has been appointed Administrator of Chevron Autohire Limited after the firm encountered financial difficulties, leading to debts of more than £60,000 with a sum owed to Her Majesty’s Revenue and Customs (HMRC).

Chevron Autohire Limited, based in Sunderland, is a car and van hire company that employs five people and has an annual turnover of approximately £300,000.

SFP’s Daniel and Simon Plant – both licensed members of the Insolvency Practitioners’ Association – were appointed Joint Administrators on 16th February 2012.

The company’s difficulties were attributed to cash-flow problems, says Daniel Plant, Group Partner, SFP: “Chevron Autohire Limited owed a sum to trade creditors, had not made provisions to pay HMRC and has simply run out of cash,” he says. “Vehicle hire has been severely impacted by rising fuel costs with competition for less business even more fierce. The company has ceased trading and we are currently seeking a buyer for the business and assets.”

(Source - SFP Press Release)  

 

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