Emergency talks held to save TOM Vehicle Rental from collapse

Tom Vehicle Rental

 

Accounting firm EY is in emergency talks with TOM Vehicle Rental to try to rescue the business amid reports it is on the verge of collapse.

The Scottish truck and van rental firm and commercial vehicle dealership employs 500 staff across the UK.

It has been majority owned by private equity firm Equistone Partners Europe since December 2016.

It acquired Transflex Vehicle Rental in August 2017, making it the third-largest light commercial rental business by assets in the UK.

A statement from EY said: “EY can confirm it is working with TOM Group assessing options for the business.”

TOM Vehicle Rental was unavailable to comment as this article was published.