Following the collapse of Garenne Construction Group Ltd, liquidators have been appointed to Rabeys Garage Limited, part of the group.
Geoff Jacobs and David Standish from Interpath Advisory and Linda Johnson and Leonard Gerber of KPMG Advisory were appointed joint liquidators to Rabeys Garage Limited, trading in Guernsey as Rabeys Commercial Vehicles on 4th April 2023.
Rabeys Garage Limited was established in 1976 and for over forty years had operated one of the largest vehicle fleet sales and maintenance businesses in Guernsey. It provided services to many of the large fleet and island infrastructure operators, including the States of Guernsey.
Whilst the company’s performance had improved in recent years, the impact of recent economic headwinds including major supply chain issues, rising energy and parts prices, coupled with rising interest rates, meant its financial position had declined irretrievably in recent months.
Whilst a number of avenues were explored by the Board, including holding discussions with potential investors and seeking alternative sources of funding, the only option available in the circumstances was to take steps to cease trading and appoint liquidators.
Regrettably, the majority of the Company’s 27 employees have been made redundant. A number of employees will be retained by the joint liquidators to assist with certain administrative requirements for a short period of time.
Separately, the directors continue to be engaged in discussions with potential investors in Rabeys Universal Limited, which trades as Rabeys Commercial Vehicles in Jersey.
Geoff Jacobs, managing director at Interpath Advisory and joint liquidator, said: “It is very disappointing that Rabeys, which has been an important part of the Garenne Group and a long-established Channel Islands business, is no longer able to continue to trade. The joint liquidators are committed to ensuring that the optimum outcome for creditors is achieved and supporting the employees at what is a difficult time for all concerned. Any parties who have an interest in the business or its assets should contact the liquidators in early course.”
Linda Johnson, partner at KPMG in Guernsey and joint liquidator, added: “Rabeys was a significant participant in the local fleet operation and infrastructure and has been an important part of island life in Guernsey and Jersey for many years. Our immediate priority will be to assist the employees and creditors to submit their claims in the liquidation.”
The States of Guernsey is continuing to monitor developments regarding the Garenne Construction Group, including the announcement yesterday that liquidators were appointed to its vehicle fleet sales and maintenance business Rabeys.
Deputy Peter Ferbrache, President of the Policy & Resources Committee said: “It is very sad news when any local business with a decades-long history finds itself no longer able to continue trading. Of course our thoughts are most of all with the staff affected and their families.”
Deputy Neil Inder, President of the Committee for Economic Development said: “It’s of course sad to learn of the redundancies at Rabeys. But there is a very high demand right now in Guernsey for skilled people. There are vacancies in both the public and private sector that desperately need filling, so I’m confident everyone affected will quickly find new roles that make use of their experience.”
States Works is currently recruiting Apprentices, Vehicle Technicians, Diagnostic Technicians and Master Technicians. For more information, email [email protected]
Anyone interested in these roles is also encouraged to attend Open Days being held at States Works this Thursday (6th April) and next Thursday (13th April) between 10am and 1pm.
