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Dealer loses its right to give credit
Page 13
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BRISTOL-BASED commercial vehicle dealer Commercial World has had its consumer credit licence revoked by the Office of Fair Trading.
The OFT explains that a principal director of the dealer had a number of convictions recorded against him for handling stolen goods, four counts of applying false trade descriptions to goods, three counts of supplying goods with false trade descriptions and knowingly giving false information to the OFT".
It was decided that the company was no longer fit to hold the consumer credit licence it was granted in December 1997, and was unfit to provide credit to consumers.
A spokesman adds: "We would consider a new application from the company if the principal director no longer worked for them. But we could not give a definifive yes or no as to whether that application would be successful."
Commercial World runs a hire fleet as well as selling used vans. It declined to comment on the revocation.