Buyer sought for Bratt hire
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• Southern-based vehicle hire firm Bratt has become a victim of the recession with the receiver taking over its five depots last week. The downturn in HGV hire is blamed for its demise.
The company is continuing to trade while receiver Ernst & Young seeks a buyer for the business which employs 45. Last year it turned over £5.6m, it has debts of up to 2,5m.
"The failure of the truck rental market is the main reason for Bratt's collapse," says Jason Elles of Ernst & Young, "but we have had several enquiries for the business so I am quietly optimistic."
Bratt has depots in Reading, Swindon, Heathrow, Oxford and Newbury. As well as contract hire and lease on HGVs, the company offers light commercials, vans and cars. It became "under extreme pressure from creditors", says Elles.