Taxi credit hire firm appoints administrators

Central Cab Care, a taxi credit hire provider to the insurance industry, has appointed administrators.

Chris Pole and Ryan Grant from Interpath Advisory were appointed joint administrators to the company yesterday.

Based in Coleshill, the company is an established first tier ABI provider of taxi credit hire to the insurance claims industry, providing a nationwide service.

The company has been impacted by a range of trading difficulties, including recent changes to legislation which have exacerbated challenges to the recovery of historic book debts accumulated by the business.

This placed “unsurmountable pressure on the company’s liquidity”, the administrators said.

The administrators intend to continue to trade the business in the short term while they seek a buyer for the business.

The majority of the company’s 45 employees have been retained by the administrators to assist them with trading.

However, 12 members of staff have been made redundant.

Pole said: “We are actively seeking buyers for the business and its assets, and would encourage any interested parties to make contact with us at the earliest opportunity.”