Tue, 01 Apr 2014 | ADMINISTRATION
Ecoigo Limited, one of the UK’s leading eco-friendly car services, has entered administration.
Found in 2006, the company provides ecologically friendly car services as a greener alternative to taxis or car hire. The London-based firm boasts a fleet of over 90 Toyota Prius and Hybrid Mercedes and it also works alongside The World Land Trust in order to offset carbon emissions.
Simon Thomas and Nicholas O’Reilly of restructuring and insolvency firm Moorfields Corporate Recovery LLP, were appointed administrators at the end of last week. The administrators announced that the company would continue trading while a buyer is sought.
The news comes after the company struggled to make a profit in the recession, citing "strong competition" from other firms as the main factor. Other car hire companies and taxi providers were able to provide cheaper services while Ecoigo stuck to its environmentalist ethos.
In a statement Simon Thomas said: “Unfortunately the recession has seen a number of businesses face financial difficulty despite having a strong customer proposition.
“Ecoigo faced strong competition from convenience style taxi firms but with its strong proposition, provides a good opportunity for potential purchasers.”
_____________________________________________________________________
Related information:
Register your interest with the administrators
Over its 20-year history, the commerce has evolved into a reputable business in the industry with a pool of highly-skilled makers that have made circa 3,000 commissions. The Company is the only bespoke swing and bench maker with an endorsement from t...
The operators have owned the business for just short of 20 years and has built up a profitable and well-respected business in their area.
The business has been operating for some 15+ years and now runs under very good management. There are currently circa 480 fully managed properties and a healthy sales portfolio and pipeline.
18
|
Mar
|
Utilities group Beauparc acquires Sheffield waste management firm | BUSINESS SALE
Beauparc, a Dublin-headquartered utilities provider, has acq...
18
|
Mar
|
Derbyshire flag printing firm set to fall into administration | ADMINISTRATION
A Derbyshire-headquartered flag printing and branding busine...
18
|
Mar
|
Rescue deal saves Blackburn custom clothing firm | BUSINESS SALE
A Blackburn-based custom clothing company that fell into adm...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
We can help you capitalise on insolvent businesses. We list UK businesses in administration, liquidation and with winding up petitions daily. Ensuring our members never miss out on an opportunity
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.