RABEYS Commercial Vehicles has gone into liquidation, leaving most of the firm’s 22 staff without a job.
The firm, which was part of the collapsed Garenne Group, was in talks with potential investors in a bid to keep the business alive, but a statement from its directors released on Tuesday said that those negotiations had failed.
The Guernsey arm of the Rabeys announced on Friday that it was going into liquidation.
A statement from Jersey business said: ‘The directors of Rabeys Universal Limited, which trades as Rabeys Commercial Vehicles in Jersey, regret to confirm that the business has ceased to trade with immediate effect.
‘The directors are now considering steps for a creditors’ voluntary winding up process.
‘Regrettably, the majority of the company’s 22 employees have been made redundant. A small number have been retained by the directors to assist with the orderly wind-down of the business.
‘Rabeys Universal Limited was incorporated in 1969, and for over 50 years has operated one of the largest vehicle fleet sales and maintenance businesses in Jersey.
‘The closure of the business follows the appointment of joint liquidators to Rabeys Garage Limited, trading in Guernsey as Rabeys Commercial Vehicles, on 4 April 2023.’
A spokesperson for Rabeys Universal Limited said: ‘This is an incredibly sad outcome. In recent days, the management team has worked tirelessly to find a solution to the challenges facing our business, including holding intensive discussions with potential investors.
‘However, the impact of the insolvency of our Guernsey business, coupled with the issues facing the wider group, meant that we were unable to find a way forward, and we had no option but to take the difficult decision to close.
‘We’d like to thank our employees, customers and suppliers for all their support and goodwill over the years.’