Gerrans told Fleet News: 'We had been seeking a second wave of investment, but at the very last minute the investor pulled out. We've had a creditors' meeting to see if anything can be salvaged, but at this stage it doesn't look hopeful.'
A 'small number of jobs' - including those of Gerrans and Highfield - are on the line as most services were outsourced. McInerney left Motoreasy in October.
At its launch last May, the firm promised a motoring revolution offering private drivers a comprehensive fleet-style package, including insurance, scheduled servicing, accident management, repairs, breakdown cover and a 24-hour helpline.
Strategic partnerships had been formed with HMC Fleet Maintenance Centres, Apples Car Clinic, Olympic Warranty, the ABS repair network, Auto Windscreens, Inter Partner Assistance (IPA), Hi-Q and Castrol.