Commercial vehicle hire firm Reflex Fleet Solutions has officially entered administration, less than a year after a multimillion-pound management buyout (MBO) was supposed to secure its long-term survival.

Liz Welch, Conrad Beighton and Andrew Poxon from Leonard Curtis were appointed as joint administrators on 20 August 2026. The commercial vehicle hire firm has already shut down its corporate website and stopped day-to-day operations.

The collapse marks a turbulent end for the Loughborough-based business. The company traces its origins back to 2011 as Reflex Vehicle Hire. In September 2021, the business had become family-owned after undergoing a £16.5m buyout. At that time, the Waring family took a 92% controlling stake by buying back shares from institutional investors, positioning the firm for a long-term, independent growth strategy.

However, intense creditor pressures and severe cashflow distress saw the business enter administration on 23 December 2025.

Following this, the business and its assets were immediately acquired out of administration through a pre-pack deal via a £16.5m management buyout by a newly formed entity called Reflex Fleet Solutions and backed by funding partner Praetura.

However, the newly formed Reflex Fleet Solutions business was unable to overcome ongoing industry pressures and mounting cashflow liabilities forced the business into a legal restructure less than a year later.

On 5 August 2026, the company filed an official Notice of Intention to Appoint Administrators through law firm Shoosmiths, giving temporary breathing space, but then officially transitioned into full administration.

Prior to the formal appointment, the Leonard Curtis funding team stepped in to review strategic options and manage critical, time-sensitive payments. Since taking over, the joint administrators have successfully completed an asset sale to an independent third party, but the business has ceased to trade.