VMS Fleet Management enters administration, 136 redundancies, wind-down planned

The business is to be wound down in a controlled manner after no viable offers emerged for a going-concern sale. In total, 136 staff have been made redundant and 24 retained to assist the administration.

Barclays Bank, which provided an invoice finance facility and holds a qualifying floating charge, served a winding-up petition last week. HMRC separately petitioned on September 9. The directors asked the bank to appoint the administrators.