4R Blog

RSS Feed

Midlands electric van firm goes into administration

Date Added: 08/03/2011  

More than 25 people have lost their jobs after an electric van firm in the Midlands went into administration.

Coventry-based Modec made half of its 53-strong workforce redundant immediately after learning it was unable to continue due to the level of debt it had accrued.

A group of three partners from Zolfo Cooper have been called in to act as the adminstrators of the business and they pointed out that the future is not necessarily bleak for Modec.

They described the company as "a market leader in its field - and as such it represents an attractive purchase for the right buyer".

It was added that there was no choice but to cut the staff numbers at the organisation in order to improve the situation at the company for any potential buyers looking to come in.

Last month, Modec revealed that UPS had added 14 of its vehicles to its fleet which operates in London.

Posted by Julie Cutts 

Get the Help You Deserve

0800 90 20 123

Urgent Help Call 24/7

020 7183 2606

We'll Call You

Request a Callback