Case Studies Administrative Receivership
Kwik Fit Tyres and Auto Care Limited (Kenya)
Kwik Fit operates a chain of tyre fitting and auto care outlets in Kenya. Violence in 2008 following disputed elections and lack of working capital substantially hindered the business, causing trade to decline and the company entering receivership. Duly appointed as receivers we successfully traded the business for some time then concluded a settlement agreement between directors and the bank. The company was returned to its directors to continue trading with redundancies minimised. Our local and international knowledge gave us a powerful position in negotiations resulting in a successful recovery for the bank.