Administration brings job losses at Nottingham AutoPark
MORE than 20 jobs have gone at Nottingham AutoPark, part of the Drive Assist group, after it called in administrators.
A spokesman for the administrators, Zolfo Cooper, said the Nottingham operation closed with the loss of 21 jobs.
Five members of staff have stayed on temporarily to help wind the company down.
More than 250 jobs at Drive Assist, a car-leasing firm, have also been lost.
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The 259 employees at Drive Assist, based in Tamworth, Staffordshire, were made redundant with immediate effect, said Zolfo Cooper.
The firm, which in total employs 640 people at 14 offices, deals with the short-term leasing of replacement vehicles on a credit hire basis to individuals following road traffic accidents, when they have not been at fault.
The company's other business activities include the retail sale of its ex-fleet vehicles at Nottingham AutoPark, which is based in Mapperley, part of the Millennium Motor Group division.
According to Zolfo Cooper, the administrators were appointed as a result of the companies experiencing "considerable working capital management issues" and subsequent cash flow problems.
Alastair Beveridge, partner at Zolfo Cooper and joint administrator said: "Unfortunately, in recent months the companies have experienced the loss of a major customer which has resulted in increasing cash flow pressures and administration was the only option available.
"Regrettably, 259 employees have been made redundant with immediate effect.
"We will be working alongside all stakeholders to determine the most appropriate next steps for the benefit of all creditors."
Employees were advised to contact 0161 838 4579, or email firstname.lastname@example.org, while individuals with cars on hire should contact 0161 838 4585 or email@example.com.