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Vehicle recovery firm enters liquidation

Date Added: 07/09/2011  

Dragon Rescue, a vehicle recovery service based in Wales, has gone into liquidation after being served with a winding up order.

Company chairman Stephen Powell revealed that he made the decision on September 1st due to a lack of work.

According to a report by Road Transport, Mr Powell also believes "unsupportive" banks contributed to the failure of his organisation.

All of the company's members of staff have been made redundant as a result of it going out of business.

Dragon Rescue had suffered a major blow after the termination of its contract with Iveco in 2008.

It was trading as Dragon Truck and Van at that time and following a move into administration, Mr Powell took over and rebranded the organisation as Dragon Rescue.

Frances Coulson, president of R3 - the Association of Business Recovery Professionals, recently called for the coalition government to do more to help those companies that are struggling due to the testing financial climate in the UK.

Need advice on Winding up Orders? Call 0800 9020123

Posted by Julie Cutts

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