Over several years LeasePlan Corporation has been following a worldwide policy of returning to its core business of vehicle management. Mox in the UK, a wholly owned subsidiary of LeasePlan Corporation, does not fall within the category of core business.
Following an unsuccessful attempt to sell Mox UK and its sister company Mox Technology to a third party, LeasePlan has decided to close the Mox leasing book to new and renewing business.
Mox UK is not closing down
Closing its leasing book does not mean the imminent closure of Mox UK. In fact, this is far from the case; business will continue as usual with Mox UK honouring all its obligations under the hire agreements, and collecting rentals and other payments as due.
Iain Belton, the Mox UK general manager who will manage the run out over the foreseeable future, said, “Our owners, LeasePlan, are a worldwide vehicle management group with a large investment in the UK. They pride themselves in their reputation and will continue to support Mox until the run out of the business is complete.”
“All our activities will continue as normal during the run out. This is expected to take up to two years. Anyone with any concerns is very welcome to e-mail me at ibelton@moxuk.com with their specific questions.”