Hire for Lower goes under
Leisure car hire firm Hire for Lower has gone bust, its liquidators PricewaterhouseCoopers have confirmed.
The company, which had 40 staff, was started five years ago by Holiday Autos co- founder Nick Stolberg.
Hire for Lower operated from leased premises in Soho, London and had an annual turnover of £17 million.
According to a statement on the PWC site the company blamed its demise on “increased competition”.
Its failure is in marked contrast to the success of Holiday Autos, which was founded in 1987 and sold to online retailer Lastminute.com for £39.7million in March. Clive Jacobs – who with Mr Stolberg founded Holiday Autos – is now deputy chairman at Lastminute, which is itself currently the subject of takeover speculation.
See our previous story
28 Mar 2003: Lastminute’s DIY packages boosted by Holiday Autos deal
Have your say Cancel reply
Subscribe/Login to Travel Mole Newsletter
Travel Mole Newsletter is a subscriber only travel trade news publication. If you are receiving this message, simply enter your email address to sign in or register if you are not. In order to display the B2B travel content that meets your business needs, we need to know who are and what are your business needs. ITR is free to our subscribers.
































TAP Air Portugal to operate 29 flights due to strike on December 11
Qatar Airways offers flexible payment options for European travellers
Airlines suspend Madagascar services following unrest and army revolt
Strike action set to cause travel chaos at Brussels airports
Digital Travel Reporter of the Mirror totally seduced by HotelPlanner AI Travel Agent