Administrators called in at Cheshire online tyre company

Tyres on the Drive

Administrators have been called in at a firm which specialised in a mobile tyre fitting service.

The administrators from Grant Thornton were called in at the end of January at Crewe firm Tyres on the Drive.

The news comes just two years after the firm secured £8m in funding from Halfords – which took a minority stake in the business.

At the time existing shareholders MMC Ventures and True Capital also participated in the funding round.

The company was founded in 2011 by Dominic Clark, a former Michelin brand manager who grew “frustrated” with the auto industry and set up his own platform.

The company received its first venture capital investment, a sum of £340,000 from The North West Fund for Venture Capital, the following year

The investment was managed by Enterprise Ventures. MMC Ventures first invested in the company in 2012, while True Capital took on a shareholding in 2014.

The start up allowed customers to find their own tyres through its site, then arrange for a fitting the next day.

The business described itself a disruptive, nimble, online and mobile fitting-focused tyre operation.

Tyres On The Drive said it had a sophisticated, customer-centric online platform, resulting in a best-in-class customer experience, throughout the journey from ordering through to fitting.

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