Forecourt Trader - 30 years at the heart of the fuel retailing community

Banking culture blamed as administrators put Nesscliffe Services up for sale

26 June, 2012

Independent retailer Mike Dransfield has blamed bankers and the endemic bonus culture in the banking world for contributing to the collapse of his family-run business. Administrators from KPMG were appointed to Shropshire-based Nesscliffe Services on June 15, 2012.

The site is located on the A5 between Nesscliffe and Oswestry in Shropshire. It was opened in December 2005 as a new state-of-the art service station following a £1.6m investment on the bypass that had looked set to blight Mike's 30-year-old village forecourt business. The bypass took traffic away from his village forecourt and store businesss in Nesscliffe – which still provides a vital service to the locals – but Mike was undeterred and built a new site on the new road.

"We are very proud of what we have achieved, but we have struggled for six years against the pressures put on us by RBS," said Mike angrily. "The economic climate is difficult but we have worked very hard as a family. However we have had no continuity from the bank, with probably two different managers a year for the past six years. I blame the endemic bonus culture of the banking world today."

Richard Philpott, joint administrator at KPMG, said: “Historically, the business has been loss making and with the current level of bank debt it is no longer a viable proposition.

“We continue to trade the business while we seek a going concern sale, that will deliver a different funding structure, and we remain hopeful that a future can be secured for the business.”





My Account

You are not logged in.
  • Weekly
    Retail
  • Weekly
    wholesale
  • Daily
    Average
Weekly retail fuel prices: 18 September 2017
RegionDieselLPGSuper ULUL
East120.75128.55119.84
East Midlands120.29128.81119.63
London120.7558.57130.05119.82
North East120.2059.90129.98119.40
North West120.52128.62119.81
Northern Ireland119.2369.90126.85119.03
Scotland120.60128.18119.75
South East121.03130.63120.24
South West120.75129.31119.96
Wales120.35127.44119.57
West Midlands120.4262.90130.69119.84
Yorkshire & Humber120.1971.90128.67119.59

Most read

Are you relieved that as a consequence of the 2015 Modern Slavery Act, rogue hand car washing operations are now being targeted by the authorities as one of the prime sources of human trafficking and are being shut down?