Allan Access Hire in difficulties.
By Maria Hadlow07 July 2009
The directors of UK vehicle mount specialist, Allan Access Hire, have instructed their invoice financing partner to appoint an administrator to the affairs of the business.
According to director, Phil Allan, the company finds itself in this position due to the punitive conditions imposed on Allan Access Hire by the administrator when Allan Access Hire bought Allan Access in October last year combined with governmental mismanagement of the Government Initiative Loan Guarantee Scheme.
Mr Allan says that Allan Access Hire has paid the administrators back in full but needed HMRC (Her Majesty's Revenue and Customs) to agree that outstanding liabilities to them be paid over a reasonable period. Initially HMRC agreed, but delays by the bank in passing the loan, due partly to the bank's cautiousness and partly to lack of familiarity with the new governmental scheme, led to HMRC deciding to petition to have Allan Access Hire wound up. To prevent this Allan Access chose to appoint its own administrator.
"The directors of the business despite having taken every step possible to protect and save the company, and jobs by putting in their own personal monies will also be severely hit by these actions," said Mr Allan. "However, I am confident we can get the business up and running again."