A fleet management company headquartered in Stoke-on-Trent has gone into administration, resulting in dozens of job losses.
Prohire Group Limited – the holding company of Prohire Limited – has ceased trading after struggling with long-term funding challenges. The company, which offered contract hire, fleet management and rental services, employed 80 staff across its sites in Fenton and Tunbridge Wells, with 57 based locally.
Administrators from EY-Parthenon were appointed last week and confirmed that the majority of staff have now been made redundant.
A spokesperson for EY-Parthenon said: “The companies have faced liquidity challenges over several years and, while the management team has explored options to safeguard the future of the business, it has not been possible to raise the funding required to continue trading.
“As a result, the companies have been placed into administration and have ceased providing services to customers while the joint administrators explore the possibility of novating contracts with customers and vehicle funders to new providers.
“Regrettably, the majority of employees have been made redundant with immediate effect, with a small number of employees retained to assist the joint administrators with an orderly wind-down of the companies. All those impacted are being offered appropriate support and advice.”
Prohire’s fleet included around 3,400 vehicles, ranging from vans and cars to trailers and trucks. The firm had operated in the commercial vehicle sector for more than 25 years.
Daily Focus has contacted Prohire for comment.
