Jobs go as Broker Assistance is broken up
THE accident management arm of Birchwood-based Broker Assistance has been sold back to its bosses after the firm was placed into administration, but around 50 jobs are understood to have been lost in its credit hire division.
Administrators from Bury-based insolvency firm Leonard Curtis were appointed to Broker Assist on October 10 after its bank, Lloyds TSB, withdrew its facility to the business.
The company’s last filed accounts for the year to March 31, 2010, show a £1185,000 profit on turnover of £15.3m.
However, the insurance services division, Broker Assistance Insurance Services, was bought out by managing director John Ralph for an undisclosed sum.
The division, which employs 46 staff, will continue to be run by Ralph and head of finance Chris Parker. He said the sale would allow the business to continue to trade.
“By concentrating on mutual core competencies with our key client base – driving retention for all parties – we will build a sustainable and successful business,” said Ralph.
He added that client monies have been protected and that its service to personal lines and fleet customers will continue entirely unaffected. The company is currently negotiating a lease for new office space in Warrington and is expected to move shortly.
Meanwhile, TheBusinessDesk.com understands that administrators have been forced to lay off around 50 of the 70 staff in the Credit Hire business, which remains in administration. It had recently won a large tender to handle credit hire claims from AA Accident Management.
