Prohire Limited - Administration

Prohire Limited, a Stoke-on-Trent-based fleet vehicle hire business with a secondary base in Tunbridge Wells, entered administration on 27 June.

Timothy Vance and Samuel Woodward of EY were appointed as joint administrators, and said that the company had been unable to secure funding after facing several years of liquidity challenges. The company’s most recent accounts reveal profits which fell by more than £1 million, representing an overall loss after tax of £132,000.

The majority of the company’s 80 employees have been made immediately redundant, while a small number kept on to assist the joint administrators.

There are 30 outstanding charges registered against the company, including charges in favour of Northedge Capital, Close Leasing, Aldermore Bank, Abn Amro Asset Based Finance N.V. and Carrick Asset Finance.