Jobs Compromised As PwC Still Struggles to Sell Leaseway Rental

Lucas Gilmore, “Big 4″ observer
January 07, 2011 /

With 41 redundancies already declared from the receivership of Leaseway Vehicle Rental (LRV), PricewaterhouseCoopers administrators are still struggling to look for buyers of the ailing vehicle rental company.

LVR, which fell into PwC administration in early December 2010 with administrators Bruce Cartwright, Laurie Manson and Ian Green, already attracted potential buyers, but Cartwright, head of business recovery services at PwC in Scotland, said their interest did not include the vehicle rental company‘s refurbishment or fleet sales operations.

PricewaterhouseCoopers administrators subsequently declared redundancies in these areas covering the vehicle rental company’s sites in Glasgow with 33 jobs affected, in Leeds with four jobs, in London with one, and in Newcastle with three redundancies.

Cartwright expressed disappointment at their decision of declaring redundancies in the vehicle rental company, saying that it was not easy making the decision.

PwC is still open to any interested buyers who would show interest for the vehicle rental company.

Leaseway Vehicle Rental was one of four vehicle rental companies that are likely to implement increases in rental rates in the coming months as financial troubles in 2010 continue to hit the industry.

 

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