Kendal coach firm crashes
A KENDAL-based coach company which operated school buses and ran excursions to continental Europe on behalf of tour operator has been placed into administration.
FW Stainton & Sons, a family-owned firm whose coach business had traded from Kendal since 1921, was placed into administration on October 1, with Jon Newall and Kerry Bailey from the Manchester office of PKF appointed as joint administrators.
The company had employed around 35 staff, including more than 20 drivers – all of whom were laid off prior to the business being placed into administration.
The company is no longer trading and Mr Newall told TheBusinessDesk.com that the administrators’ main tasks were now an orderly collection from outstanding debtors and a sale of the company’s offices which were based on a residential street in Kendal where a garden had been converted into a small coach park.
The company’s fleet of 24 coaches were all subject to hire purchase agreements and have subsequently been repossessed by its finance company.
“There was no equity in them,” he said.
