Motorway service operator Swayfields Limited and Swayfields Extra MSA Holdings Limited (the Group) has entered administration because it is unable to meet increasing debts. The Lincoln-based group, which has annual revenues of £13m, operates 11 roadside service areas including six motorway service areas, two trunk-road service areas and three forecourts. Ian Green, joint administrator at PwC says the company has entered administration in order to focus on a restructuring and re-financing of the business. After considering the options, the administrators will begin the search for a buyer for the companies, which will continue to trade as normal. Mr Green said: "We are confident of a sale being completed with minimal, if any impact on the operating sites." Plans to build a service station near junction 10 on the M25 have not been affected by the move into administration. The plans, which involve a hotel, petrol station, shops and 721 car parking spaces, were approved in 2005 by the government despite opposition from the local council and residents.
