SRT Petroleum, the company that operated the Lydford Services petrol station on the A37, will cease trading in April following a combination of rising rent costs and a decline in business. The company stopped trading in January and is set to enter voluntary liquidation next month.
Despite this, the petrol station itself will remain open, transitioning to new management to continue serving motorists and local customers.
Daniel Harrison of Bridgewood Financial Solutions, the company overseeing the liquidation process, stated: “The company ceased trading in January due to increased rent and operating costs, alongside reduced trade. The director is working to realize the company’s remaining assets before entering voluntary liquidation, which we anticipate will happen in April.”
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Lydford Services, located on the main road running from Dorchester to Bristol, features several amenities including Greggs, Costa Express, Budgens, and a 24-hour off-licence. The A37 also serves areas such as Shepton Mallet and Yeovil.
It is understood that four employees left the business voluntarily, and outstanding wages will be paid by the liquidators within 60 days. The service station remains open around the clock, seven days a week.