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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.”

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Weekly retail fuel prices: 27 January 2020
RegionDieselLPGSuper ULUL
East Midlands132.8068.90141.21128.31
North East131.34142.22126.69
North West131.97140.37127.47
Northern Ireland129.69133.33125.58
South East133.6771.90141.39128.99
South West132.7067.90139.47128.02
West Midlands132.5564.80141.05128.17
Yorkshire & Humber131.8760.90140.55127.54

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