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A financial services firm has fallen into administration, costing at least 12 jobs.

Coleshill-based Central Cab Care is a provider of taxi credit hire to the insurance claims industry, providing a full nationwide service.

But trading difficulties have led to the appointment of Chris Pole and Ryan Grant from Interpath Advisory as joint administrators who are now seeking a buyer for the company.

They said in a statement that Central Cab Care had been impacted by a range of issues, including recent changes to legislation which had exacerbated challenges to the recovery of historic book debts.

This placed unsurmountable pressure on the company's liquidity, administrators said, leaving the directors with little option but to seek their appointment.

Interpath Advisory intends to continue trading the business in the short term while it seeks a buyer for the business, retaining the majority of the 45 employees but with 12 staff already made redundant.

Mr Pole said: "We are actively seeking buyers for the business and its assets and would encourage any interested parties to make contact with us at the earliest opportunity."