Ryan Grant and Rick Harrison of Interpath were appointed as Joint Administrators to Easi-Drive Limited, Credit Repair Limited and EDAM Group Limited (together ‘the Group’) on 6 January 2025.
The Group, which trades as EDAM, provides drivers with credit hire and post-accident repair services through intermediaries, such as insurers. It employed 195 staff across its head office in Manchester, support office in Sunderland and depots in Falkirk, Bristol, Hitchin, and Horsham.
The Board sought to explore options available to the Group including a sale, investment, refinance and restructuring options following a sustained period of challenging trading conditions witnessed across the wider credit hire market. However, in the absence of a viable option, the Group is unable to meet its financial obligations and the Directors took steps to seek the appointment of the Joint Administrators.
On appointment, 101 employees were made redundant as the Joint Administrators began a process to orderly wind-down the Group’s operations. The remaining staff have been retained in the short term to assist the Joint Administrators in fulfilling their duties.
Customers with ongoing repair services or with credit hire vehicles remain unaffected at this time and are bound by existing terms and conditions. Any customers with queries can contact [email protected]. The business has stopped taking on new credit hire and repair service engagements.
Ryan Grant, Managing Director at Interpath and Joint Administrator to Easi-Drive Limited, Credit Repair Limited and EDAM Group Limited, said: “Like many players in the credit hire market, EDAM Group has faced challenging macroeconomic trading conditions following structural changes to road traffic volumes encountered since the pandemic, as well as the associated supply chain impact on the UK garage network. We have commenced an orderly wind down of EDAM’s operations, while also supporting those employees impacted by redundancy, providing them with resources and guidance to file the appropriate applications to the Redundancy Payments Office.”
The administration does not include Garvins Law, the credit hire litigation specialist, which remains independent and continues to trade as normal.
