1Car1 - 1Van1 has gone into administration

You may have noticed that we have removed 1van1 from our van hire price comparison search last week, this is because 1Van1 (part of 1Car1, which is owned by Local Contract Hire & Leasing Ltd (LCH)), which is one of the leading van and car hire companies has gone into administration.

Currently there have been 200 redundancies, and it's future is uncertain at this point while the administrators look into the best options for the company. 1Car1/1Van1 has been trading for over 20 years (previously under the LCH name), and employed over 800 people at it's 87 branches throughout the UK with a 15,000 vehicle fleet. The administrators are hopeful that they can find a buyer for the business, although in these uncertain economic times that is far from guaranteed. Although the business itself was profitable, the problems began when in a familiar story two banks that provided credit to the company had a change in business practice meaning that 1car1 was unable to replenish its fleet. So if a buyer is unable to be found soon, 1car1's fleet will be returned to the various suppliers. In a further shock its unclear if the current employees will have their salaries paid at the end of the month.