Commercial vehicle hire company T.O.M. Group goes into administration

Commercial vehicle hire company T.O.M. Group goes into administration

Scotland-headquartered commercial vehicle hire company T.O.M. Group has gone into administration.

Colin Dempster and Fiona Taylor of EY’s Restructuring team have been appointed as joint administrators.

A statement posted on the company website said: “On appointment of the Joint Administrators the Group ceased trading and 342 employees have been made redundant across eleven locations in Scotland and England. A total of 86 members of staff will be retained at the Group’s head office in Airdrie and across the depot and dealership network for up to four weeks to assist the Administrators with an orderly wind down of the business and respond to any customer queries.

“The Group had faced challenging trading conditions in recent months. Considerable efforts had been made to restructure its operations and, when that proved too difficult, the owners marketed it for sale. Unfortunately, no suitable interested parties emerged from the sale process, due to the scale of the losses and the investment required to turn the business around.

“Due to the Group’s lack of liquidity and increasing pressure from creditors, the directors had no option but to seek the appointment of Administrators.”

Relevant Directory Listings

Listing image

PasarEx

PasarEx is a Colombian company that provides international express transportation services for air cargo, packages and documents, and last mile services for electronic commerce platforms. PasarEx is positioned in the logistics market in Colombia due to its rapid response and personalized attention and the use […]

Find out more

Other Directory Listings

Advertisement

Advertisement

Advertisement

P&P Poll

Loading

What's the future of the postal USO?

Thank you for voting
You have already voted on this poll!
Please select an option!



MER Magazine


The Mail & Express Review (MER) Magazine is our quarterly print publication. Packed with original content and thought-provoking features, MER is a must-read for those who want the inside track on the industry.

 

News Archive

Pin It on Pinterest

Share This