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04 Feb 2009
Partners from Zolfo Cooper have been appointed as administrators at Camden Group Services after the company fell victim to the tough economic conditions.
Alastair Beveridge, Stuart Mackellar and Fraser Gray are now in control at the company car provider, which employs approximately 800 people across its head office, fleet services and retail businesses.
The trio are currently trading the business as a going concern,w hile exploring options for its future, but said 40 redundancies in the fleet division, which were already planned by the management, are now expected following their appointment.
Beveridge said: 'Despite having well-established businesses in both the automotive fleet services and retail franchise sectors, Camden Group has not been able to escape the extremely tough trading conditions that the sector as a whole is battling through.
We will continue to trade the business as a going concern as we assess options for the business.'
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