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Administrators to London Taxi complete recall fix

The administrator to London Taxi Company, PwC, has announced the competition of a steering fix to recalled vehicles.

Over 400 vehicles were affected by the recall, which are now all back in service. This repair work is being extended in to a second phase, which will see some 600 new and unregistered vehicles having the same steering system replaced.

This second-phase of work is expected to be completed at a faster rate than the first, as the majority of vehicles are at a single location within a secure compound. The administrators expect that the second phase of the fix will be completed by late February, which will conclude the replacement program for all steering boxes.

“I am delighted that all the taxis are now repaired and back on the road. I want to thank the company's employees who have been part of a massive effort to get all the vehicles repaired,” explained Matthew Hammond, PwC partner and joint administrator. “They have worked extremely hard to ensure the affected taxis were returned to their drivers as quickly as possible and back on the road before Christmas. It’s been a tough time for all those affected, so it’s pleasing to have completed this phase of works on schedule.

Employees laid off from the Coventry plant, at the end of October, have returned to full time employment to assist with the ongoing operations of the business. PwC remain in negotiations with a number of bidders that submitted offers in the second round.

The deadline for second round bids fell on Friday 7 December and the administrators are currently evaluating offers.

 


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