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Monday, 10 December 2012

Drive Assist in administration rumours

It has been reported in some of the car dealer press that Drive Assist, the UK’s fifth largest accident management company, with a £100m turnover has gone into administration.   The press have been contacted by a number of car repairers and others that the business was "going into administration"  No one is answering the phone at the company and there has been no official announcement so it is not certain what is happening. Also a number of the dealers websites are down such as Nottingham Autopark.  As such it appears something is going on.

It is possible that the firm is trying to arrange a pre pack administration to try and ensure business continuity or are in talks with the banks to try and renegotiate the debts.  The balance sheet of the company is showing negative £325m at the last reported accounts in mid 2011.

Either way we will keep you updated if we hear anything more!

If you work for Drive Assist and are worried then you can look at our help for employee pages

update:  A number of employees have emailed me to say that they have been made redundant following Drive Assist going into administration and see comment below.  The company's website still has no announcement which is unusual.  We understand that Zolfo Cooper have been appointed the administrators.


1 comment :

  1. company closed for business today,adminstration are in, no warning was given to staff,you'll be hard pushed to get a comment from them as they are no longer there.
    from
    now ex employee

    ReplyDelete

Many thanks for your comments. If you have a private business problem and you want advice give us a call on 0800 9700 539 or email me at keiths@companyrescue.co.uk. If you are a professional advisor with a troubled client, please suggest they visit www.companyrescue.co.uk or contact me as above.

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