Speedy Hire in Newport – part of the national tool hire chain – is reportedly closing its doors.
Speedy has been located on Manners View on the Riverway Industrial Estate for more than 15 years.
But it is claimed by multiple sources that the only Isle of Wight branch is closing its doors for good.
When contacted by Island Echo, branch staff refused to comment on the matter. Attempts to contact Speedy Hire’s press office have also been unsuccessful.
It’s understood 3 staff are losing their jobs.
The news comes just months after competitor HSS Hire – which was also located in Newport – closed its Hunnyhill outlet after more than 25 years on the Island, as previously reported by Island Echo. A total of 3 jobs were lost there too.
It could mean good news for other firms such as Jewson and Sydenhams Hire.
The closure of Speedy is yet another blow for the local economy… In December, HSS Hire in Newport closed its doors after 25 years, and it was announced 300 jobs were to be lost at Vestas. Then, on Boxing Day, it was suddenly revealed that Wyld in Newport had closed with immediate effect.
Furthermore, Hovertravel has recently cut 17 staff roles and reduced both its morning and evening services, and Kingswood in Bembridge closed with immediate effect in January as a result of its parent company being placed into administration.
It doesn’t end there though… Snows Isle of Wight closed its doors in February due to economic circumstances and Liz Earle has announced it is closing its Head Office in Ryde with the loss of a number of jobs. GTI Glazing in Somerton and John Peck Construction in Rookley have also both gone into liquidation.
Sadly another one bites the dust.
I wonder who will be next!!
About time more like slow hire very poor
Aren’t Liebour doing a wonderful job.
Labour has been in less than a year. The financial situation in all those companies were as a result of the previous 3 years trading. Why? Because customers haven’t got any money to spend. Why? Because of the amount of service industries (energy etc) who have been allowed to raise prices citing markets rising, yet have managed to increase their profits by exactly the same amounts, or more. Vestas losses were to do with cancelled contracts when technology shifted course.
It is all being orchestrated to crash the economy
and get people to rely on receiving a universal basic
income.
“It is all about controlling minnions”
Labour are doing what their Davos bosses
want them to do, crush small businesses.
“You will own nothing and be happy”
All part of the Agenda?
Since the last Labour budget many businesses
are choosing to close down branches etc.
They obviously don’t want to pay extra N.I or
extra pay for employees.
What with A.I and now the Government are expecting
disabled persons to get jobs!
WHERE ARE THE JOBS COMING FROM?
DO THEY HAVE A MAGIC JOB TREE!