TOM Vehicle Rental

Type
Bankruptcy
Country
United Kingdom
Region
Location of affected unit(s)
Sector
Administrative Services
Rental And Leasing Activities
Rental And Leasing Of Motor Vehicles
77.11 - Rental and leasing of cars and light motor vehicles
428 jobs
Number of planned job losses
Job loss
Announcement Date
28 March 2018
Employment effect (start)
28 March 2018
Foreseen end date

Description

Following operational and liquidity issues, vehicle Rental Company TOM has gone into administration and will close with the loss of all 428 jobs. The business is based in Airdrie, North Lanarkshire and has eleven sites across England and Scotland. The company has confirmed that 342 redundancies have been made with immediate effect. Eighty-six employees will be kept on at the Airdrie head office for approximately a further four weeks in order to help with the wind down of the company. The leader of the Scottish Labour Party called on the Scottish Government to put in place plans to help the affected workers.

Sources

  • 28 March 2018: BBC Website
  • 28 March 2018: The Scotsman

Citation

Eurofound (2018), TOM Vehicle Rental, Bankruptcy in United Kingdom, factsheet number 94004, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/94004.