Debt collection agency Roxburghe (UK) Limited has entered administration, resulting in 35 redundancies.
Roxburghe had been trading at a loss due to sizeable overheads and the company directors made the decision to place the business into administration.
The company had previously employed 42 staff at its Surrey office, 35 of whom have now been made redundant. Seven staff have been retained to operate the company’s parking ticket collection business, PCN Parking Services, and process and reconcile receipts and collections from all debtors.
Roxburghe operated as collection agency for Talk Talk and the Post Office, and other generalised clients, as well as specialising in parking ticket collections.
Asher Miller and Henry Lan of David Rubin & Partners were appointed as joint administrators of the company on 16 September.
Speaking to Insolvency News, Miller said: “The directors of Roxburghe made the decision to place the company into administration following a period of steady attrition in collections work. The company was unable to adjust its overhead base in response, leading to it trading at a loss.
“We are continuing to trade the business while seeking a sale. We have had several expressions of interest in PCN Parking Services from other collections agencies who may wish to add it as a ‘bolt-on’ to their existing services portfolios.”
In February, Roxburghe, debt purchaser HFO Capital and associated debt collection agency HFO Services Limited, were declared “unfit” by the OFT and refused renewal of their consumer credit licenses.
The companies made an appeal against the Office of Fair Trading’s (OFT) decision not to renew its consumer credit licence, branding the ruling as “unjust”.