Long-standing first tier ABI provider of taxi credit hire, Central Cab Care Limited, has fallen into administration, with Chris Pole and Ryan Grant from Interpath Advisory being appointed joint administrators on 18 October 2023.
Central Cab Care Limited, headquartered in Coleshill, Birmingham, is recognised for its nationwide service in the insurance claims industry. However, the company has faced an array of challenges, including recent legislative changes that have worsened the recovery of historical outstanding debts. These difficulties have placed overwhelming pressure on the company's liquidity, ultimately leaving the directors with no choice but to request the appointment of administrators.
In an effort to salvage the business, the joint administrators have expressed their intention to continue trading Central Cab Care Limited in the short term while they actively seek a prospective buyer. To maintain operations during this transitional period, the majority of the company's 45 employees have been retained to assist the administrators. Nevertheless, the unfortunate outcome of this situation has resulted in 12 members of staff being made redundant.
It is anticipated that the administrators' immediate priority will be to stabilise Central Cab Care's financial position and explore opportunities for a successful sale.
Chris Pole, joint administrator and managing director at Interpath Advisory, said: “We are actively seeking buyers for the business and its assets, and would encourage any interested parties to make contact with us at the earliest opportunity.”