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Accident management firm Drive Assist entered administration at the end of last year with the loss of 287 jobs out of 640 total.
The firm was run by directors Steve Binch, Chris Wright, Nigel Bardsley and Ralph Ferguson, until Zolfo Cooper was appointed as the administrator in December 2012 for Drive Assist and two sister companies.
The administrators are now working through all options for the company including the possible sale as a going concern.
However, despite claims on the Drive Assist website that it had a fleet of 17,500 with "approximately 90% owned" in the firm's credit hire operation, BusinessCar's sources said that on appointment of the administrator Drive Assist was operating a fleet of 7400 vehicles, including 150 LCVs, almost all of which were on finance.
The firm's website also said: "Drive Assist, established in 1992, was set up to fill a gap in the marketplace, as thousands of people were inconvenienced each year when involved in non-fault road traffic accidents.
"From humble beginnings, with just four members of staff, the Drive Assist Group has grown dramatically year on year.
"The growth of the company has been achieved through a strong understanding of the market and a willingness to support relevant initiatives."
Alastair Beveridge, partner at Zolfo Cooper and joint administrator, said: "Unfortunately, in recent months the companies have experienced the loss of a major customer, which has resulted in increasing cash flow pressures and administration was the only option available."
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