Davis Haulage collapsed after overextending itself, says administrator


 

Davis Haulage, which was sold to Buffaload Logistics for £1.8m late last year, got into trouble after overextending itself, according to a report from administrator Leonard Curtis. The business, which traded from Crewe Distribution Centre Gateway spent £1.8m paid for through working capital on a new leasehold premises in 2013/14. However, uptake for its new dedicated chilled storage area was slower than anticipated, delaying rental revenues. A downturn in trade in 2014, which saw margins squeezed as overheads increased, resulted […]