8:45 am, February 4, 2009
CAMDEN Group has been placed in administration, but will continue to trade as a going concern.
A statement from the firm said there would be a small number of redundancies from its 800 staff
A statement, released Tuesday afternoon, said: ‘Today, Alastair Beveridge, Stuart Mackellar and Fraser Gray, partners at Zolfo Cooper were appointed as Joint Administrators of Camden Group Services Limited, Camden Fleet Solutions Limited, Camden Bidco Limited, Camden Retail Limited and CCFS (2005) Limited (‘Camden Group’).
‘Headquartered in Leighton Buzzard, Bedfordshire, the Group operates two distinct divisions: Camden Fleet Solutions, an automotive fleet services provider; and, Camden Retail, which operates a range of automotive retail franchises as well as Camden Carstore, a used car centre.
‘The Joint Administrators will continue to trade Camden Group as a going concern while they explore options for its future.’
Camden Group employs approximately 800 people across its head office, fleet services and retail businesses.
Alastair Beveridge, partner at Zolfo Cooper added: ‘Despite having well-established businesses in both the automotive fleet services and retail franchise sectors, Camden Group has not been able to escape the extremely tough trading conditions that the sector as a whole is battling through.
‘We will continue to trade the business as a going concern as we assess options for the business.’
