It’s a tough time in the travel industry for many people at the moment. After a year of casualties the latest to bite the dust is Local Contract Hire and Leasing Ltd located in Leeds.
The firm was one the biggest independent car hire companies in the United Kingdom. A recent announcement from Pricewaterhouse Coopers stated that the firm had gone into administration meaning a loss of two hundred jobs. The firm also traded as 1car1.
Now all eight hundred staff will be made redundant. One hundred and eight members of staff were based at head office in Leeds while the rest of the staff were split up between eighty seven countrywide locations.
It was hoped that the company could be saved and a buyer would come forward however once this failed to happen asset striping began to take place which included a car hire fleet of fifteen thousand cars.
The administrators expressed shock and regret at the collapse of the company. 1car1 experienced steady growth over a five year period but the recent credit crunch caused major problems for the company.