Corporate buyers who use Addison Lee are getting nervous. One of the largest chauffeured car companies in the United States has made a number of changes to improve its competitiveness and attract investors. The U.K.-based transport firm’s majority owner, Carlyle, is looking to sell. Addison Lee has a lot of debt coming due soon.
Among other recent moves, Addison Lee this month will lay off 21 employees in Los Angeles, according to a regulatory filing. Sources said the company all but shuttered its California operation. It plans instead to “farm out” rides to affiliates . . .