CPS Drivelink Limited - administration

CPS Drivelink Limited, a Team Valley manufacturer of car parts, entered administration on 4 April. Joint Administrators Andrew Little and Gillian Sayburn of Begbies Traynor said that the business failed primarily due to a fundamental change in its core market of motor factors, which have increasingly become part of buying groups importing their own product into the country rather than purchasing through intermediaries. A purchaser for the company was not able to be found, and the company has ceased trading with the loss of all 25 jobs. Rbs Invoice Finance Limited and National Westminster Bank PLC each has a registered charge against the company.