Home
Distressed Businesses
  • All Distressed Businessess
  • Administrations
  • Liquidations
  • Winding Up
  • Insolvency Advice  New
Buy a Business
  • All Businesses for Sale
  • Find a Business for Sale
  • Raising Business Finance
  • Buyer Acquisition Service   New
  • Escrow Service   New
Sell a Business
  • Sell Your Business
  • List your Business
  • Seller Accounts
  • Need Help Selling?
  • Help With Finance New
  • Corporate Services  New
  • Business Valuation
  • Business Wanted Adverts
Insights & News
  • View All News
  • View All Insights
  • Exclusive Insights New
  • Video Insights
Lens
  • Search all UK Companies  New
Log in
Join Now

Home / News / Vehicle rental business on the hunt for a buyer

Vehicle rental business on the hunt for a buyer

Wed, 08 Aug 2018 | ADMINISTRATION

London-based car rental service, Wendex Vehicle Rental, has been placed in administration and is currently on the lookout for a buyer to rescue the business.

Insolvency practitioners and restructuring specialists CVR Global have been called in, and partners Charles Turner, Simon Lowes and Nicholas Parsk have been assigned as joint administrators.

The business will continue trading through the administration process, and until a new buyer is sought.

Wendex Vehicle Rental was established 20 years ago with the business of hiring out vehicles to the public. The company owns nearly 500 vehicles, from taxis to luxury cars including Bentleys, Mercedes, Lamborghinis and Rolls Royces.

It also runs a repair workshop from its central London location to maintain and manage its fleet of cars.

The company experienced an annual turnover increase from £2.8 million in 2015 to £4 million in 2017. However, due to a series of awaited payments from a number of its customers, the business has found itself in trouble over the past year.

Turner said: “This is a fundamentally profitable business [...] With some inward investment and simple operational changes, this is a business that has a bright future with potential to continue on its journey of growth.

“Such is the business’s size and potential, it would benefit from integrating with a competitor able to provide stability and address operational issues.

“We have already received several enquiries mainly from competitors and will continue to trade the business until a sale is achieved which we expect to happen imminently.”

Click here to view the Wendex Vehicle Rental Limited administration listing.

For more news stories about administrations click here. For all our administrations listings, click here.


Share this article



Latest Businesses for Sale

Property Conversion Specialist
Northern England, UK Wide

Turnover in excess of £1.2m in YE20 with an adjusted EBITDA of £129k. Works on house of multiple occupants (HMO), commercial-to residential and single let projects throughout Northern England. Offers a full project managed turnkey service, which incl...

Asking Price: Offers Invited
Turnover: £1,200,000

LEASEHOLD


Independent Educational & Business Psychology Service
UK Wide

A recognised provider of educational and occupational psychology services to the higher education sector, schools and colleges and to businesses in the UK.

Asking Price: Offers Invited
Turnover: £1,350,000

FREEHOLD


Supplier Of Cable Management, Pipe Support Products & Fixings
South of England, UK Wide

A successful and reputable business which has been operating for over 57 years. Offers a comprehensive range of cable management, fixings and complementary support products, primarily for the benefit of contractors managing commercial projects.

Asking Price: Offers Invited
Turnover: £3,460,000

FREEHOLD



View more businesses for sale

News Search

Latest News

 
24
 
Feb
 

Nestlé acquires recipe kit firm SimplyCook | BUSINESS SALE

Nestlé has strengthened its position in the e-commerc...

 
23
 
Feb
 

Lockdown exit: What does the road map look like for UK businesses? | BUSINESS NEWS

After a winter spent almost entirely in lockdown, the govern...

 
22
 
Feb
 

Modular Group acquires Euramax Solutions with BFS backing | BUSINESS SALE

Modular Group Investments has acquired Barnsley-based window...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Related News

 
24
 
Feb
 

Nestlé acquires recipe kit firm SimplyCook | BUSINESS SALE

Nestlé has strengthened its position in the e-commerc...

 
22
 
Feb
 

Modular Group acquires Euramax Solutions with BFS backing | BUSINESS SALE

Modular Group Investments has acquired Barnsley-based window...

 
19
 
Feb
 

Accenture expands with two UK acquisitions | BUSINESS SALE

Professional services company Accenture has completed the ac...

Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources

Become a Member

News Categories

  • - Business Sale
  • - Division Sale
  • - Administration
  • - MBO/MBI
  • - Merger
  • - Commercial Property

View all news


About Us

Business Sale Report is the UK's leading independent business for sale & distressed business listing service. Established in 1995, the report offers an up-to-the-minute, comprehensive overview of businesses for sale, latest distressed business listings and daily acquisition news.

Our Services

Businesses for Sale
Distressed Companies
List a Business
Help with Finance
Buyer Acquisition Service
Small Businesses for Sale

Company

About Us
Insights
News
FAQs
Reviews
Terms & Conditions
Privacy Policy

Get In Touch

020 8875 0200
[email protected]
167 Oakhill Road, London, SW15 2QW
Working hours: Mon-Fri, 9am - 5:30pm


Sign up to our free newsletter



© 1995-2021. Business Sale Report Ltd. All rights reserved. www.business-sale.com.