A truck and heavy vehicle hire firm has entered administration, resulting in 16 redundancies.
Phoenix Vehicle Hire Limited, based in Tipton, West Midlands, entered administration following a loss in turnover over the last year.
The company leased refuse trucks and other heavy vehicles to local authorities and national contracting companies.
John Kelly and Kirstie Provan of Begbies Traynor were appointed as joint administrators to the company on 7 May.
Kelly said: “Following the termination of a number of finance agreements prior to appointment, the company did not have access to a fleet of vehicles to service its customer base.
“As a consequence, the company entered administration and ceased trading immediately which has resulted in 16 employees being made redundant.
“The administrators novated the fleet support agreements to GMG Asset Management UK Limited, in order to provide continued service and maximise the collection of the company’s book debts.”