Parent problems for CTR
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• Uncertainty hung over the future of Central Trailer Rentco this week as parent 'company Tiphook acknowledged financial problems. A Tiphook spokesman said the company was "not going to discuss now" the future of its trailer and container rental businesses.
CTR owns 24,000 trailers throughout Europe; Tiphook also has nearly 500,000 containers.
Low container useage levels and poor rates have coupled with Tiphook's high level of borrowing to push the company into an expected loss for the six months to 31 October. As a result the board is talking to its banks "with a view to putting in place appropriate facilities".
However, the spokesman strongly refutes allegations from one transport financial that Tiphook is "dead" because it will not be able to find enough investors willing to fund more borrowing.