Fleet News

SFP completes sale of ARC Fleet Solutions

SFP, the nationwide insolvency practitioners, has completed the sale of ARC Fleet Solutions Limited and saved 29 jobs, after the firm encountered financial difficulties.

ARC had an annual turnover of approximately £1.7 million and offers fleet hire for cars and vans from its Nottingham base. It experienced cashflow problems that led to debts of more than £150,000.

SFP’s Simon and Daniel Plant – both licensed members of the Insolvency Practitioners’ Association (IPA) – were appointed Joint Administrators on November 23, 2011.

Following discussions with several interested parties the sale of the business and assets was completed on November 25.

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