UK fleet firm with 6,570 vehicles collapses into administration

Summarised from 2 outlets · Updated 23 Oct, 11:58 · Archive

VMS Fleet Management, which operated 6,570 vehicles for clients including Iceland, has gone into administration after 24 years.

VMS Fleet Management, a contract hire and fleet management company, has gone into administration after 24 years of trading. The firm, which operated approximately 6,570 vehicles from several locations across the UK, provided vehicles, maintenance, refrigeration services and other fleet management services to major clients including Iceland. The company cited financial difficulties as the reason for the decision, following unsuccessful attempts to find a buyer.

Following the appointment of administrators, 136 staff members have been made redundant, whilst 24 employees have been retained to assist with the administration process. Jeremy Karr, Simon Killick and Joanne Louise Hammond of BTG Begbies Traynor LLP were appointed as administrators on Tuesday, 20 October.

The appointment followed a winding-up petition served to the company by Barclays Bank. Additionally, a winding-up petition was lodged against the firm by HMRC on 9 September, which is due to be heard later in the month. The company is now set to be wound down.

How it is being reported

• Major UK vehicle firm with 6,570 vehicles plunges into administration — over 130 jobs lostA major UK vehicle fleet company has gone into administration after 24 years, after unsuccessful attempts to find a buyer for the businessThe Mirror · 23 Oct, 11:33
• UK lorry giant with 6,750 vehicles collapses into administration — 130 jobs lostThe company has been running since 2002.Daily Express · 23 Oct, 10:45

In this story: VMS Fleet Management · Iceland · Barclays Bank · HMRC · BTG Begbies Traynor LLP

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