Jobs at risk as Leeds car rental operator faces collapse

www.1car1.com

On Thursday night, it was revealed that the largest independent car and van rental firm in the UK is at the risk of collapsing, meaning that over 700 jobs could be in jeopardy.

Employees at the Leeds-based hire firm 1Car1 were told that the company was about to go into administration.

In a memo issued by management, the staff were warned: “We cannot guarantee salaries will be paid as normal at the end of this month.”

The likely collapse of this firm is the latest blow to the auto industry in Britain.

1Car1, a division of Contract Hire & Leasing Ltd, explained that two of its banks had a “change in lending policy,” which contributed to the company’s financial difficulties.

In the memo, the staff were told: “Having grown the business from scratch over 20 years, this decision has not been taken lightly. We have been left with no alternative. We are working closely with the proposed administrators to find the best solution.”

No one at the firm was available to comment on Thursday night.

Thanks to www.thesun.co.uk for the above quotes, for more information on this article please visit their website.

www.1car1.com