The man behind the Isle of Wight and New Forest Twizy Hire, which closed for business last week, has explained the reasons for the company’s collapse.
Chris Beach told OnTheWight the Hire a Twizy business has ceased trading because,
“Despite best efforts and due to the lack of hire revenue in the 2016 season, twinned with very high running and maintenance costs, the business is clearly not viable in the New Forest or on the Isle of Wight.”
He went on to say the “extremely high costs of leasing the Twizys, some of which proved to be unfit for purpose” lead to the failure.
In addition, funding had been delayed from June 2015 to October 2015, leading to a loss of revenue for the 2015 season.
Grant funded
Hire a Twizy was set up on the Isle of Wight with the help of a £36,000 government grant in 2015/16, which was match-funded by ‘Hire a Twizy’. Investigations by OnTheWight turned up the Isle of Wight Council’s view of the deal and if the money was returnable.
