Two more Welsh companies hit by recession go into administration
publication date: Dec 1, 2008
A Welsh vehicle rescue and repair venture has been put into administration with the loss of 39 jobs.
Richard Hawes and Robin Allen of Deloitte have been appointed joint administrators to Dragon Truck and Van.
The company operates a van and truck repair and rescue service in South Wales with premises in Cardiff, Merthyr Tydfil and Pyle near Bridgend.
It had an annual turnover of £16m last year and employed 157 staff and held a number of contracts with prestige brands.
The administrators are continuing to trade the business while seeking a buyer.
Mr Hawes told local media,“Dragon Truck and Van has suffered severe financial difficulties as a result of the decline in the motor industry in the UK over the past year and the tightening of credit. We are seeking interested parties to acquire the business as a going concern.”
Mr Hawes and Mr Allen were earlier this month appointed as joint administrators to Jacksons Cars, which sells Hyundai and Citroen vehicles.
The company operates a car sales and servicing business, employing 32 staff, based in Bridgend.
The business is continuing to trade as normal while administrators seek a buyer.
Richard Hawes and Robin Allen of Deloitte have been appointed joint administrators to Dragon Truck and Van.
The company operates a van and truck repair and rescue service in South Wales with premises in Cardiff, Merthyr Tydfil and Pyle near Bridgend.
It had an annual turnover of £16m last year and employed 157 staff and held a number of contracts with prestige brands.
The administrators are continuing to trade the business while seeking a buyer.
Mr Hawes told local media,“Dragon Truck and Van has suffered severe financial difficulties as a result of the decline in the motor industry in the UK over the past year and the tightening of credit. We are seeking interested parties to acquire the business as a going concern.”
Mr Hawes and Mr Allen were earlier this month appointed as joint administrators to Jacksons Cars, which sells Hyundai and Citroen vehicles.
The company operates a car sales and servicing business, employing 32 staff, based in Bridgend.
The business is continuing to trade as normal while administrators seek a buyer.