A UK petrol station has plunged into administration after serving a historic town for nine years.
HD Food and Fuel Ltd have been appointed Andrew Mark Bland of DMC Recovery Limited to oversee the liquidation of the business.
Liquidation is the legal process through which a business is dissolved. This typically involves selling the company’s assets to raise funds, which are then used to settle debts owed to creditors and shareholders.
The fuel station in Firs Lane, Leigh, is just over eight miles from Bolton and 17 miles from Manchester has operated since 2017. The closure is a huge blow to the region, the Daily Express reported.
There has been no updates over any potential job cuts at this stage.
View 3 ImagesThe Middle East conflict have pushed petrol and diesel prices up (file image)(Image: SimpleImages via Getty Images)
Customers have posted in a local Facebook group about whether it fuel station been closed down.
Locals said the petrol station had been shut down for around a week. But drivers still have access to Sainsbury’s, Asda and Morrisons filling stations nearby.
It is unclear the cause of the closure, but it comes as motorists feel the burden of higher fuel prices more generally.
Motorists across the globe have felt the pinch of higher fuel prices after the US and Israel carried out joint strikes on several key Iranian sites on February 28 and Iran retaliated by closing the Strait of Hormuz – through which 20% of global oil traded passes.
UK drivers have also been hammered by the soaring cost of filling-up as oil prices surge. While oil has dropped form a peak of more than $112 a barrel, there are concerns motorists have yet to feel the full benefit.
View 3 ImagesMerchant vessels are stranded in the waters of the Strait of Hormuz amid the ongoing stand-off (file image)(Image: Xinhua/Shutterstock)
The liquidation of HD Food and Fuel Ltd is the latest in a long list of closures.
Days ago, it was reported that used car dealership Flow Motors LTD would be wound up. Tauseef Rashid of Qimzen Advisory was been appointed to oversea the liquidation.
In April, liquidators were appointed to a UK metal manufacturer that has operated for close to 70 years. Wragg Bros., a manufacturer of steel tubes, pipes, hollow profiles and related fittings, were appointed David Farmer and Lloyd Biscoe as liquidators.
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Days earlier delivery services firm Quiver Delivery LTD had liquidators appointed following reviews targeting its service. Ian Michael Rose and Paul Mallatratt, of Abbey Taylor Jones Limited, were appointed as liquidators.