Birds Transport and Logistics made a pre-tax loss of £2.4m last year, according to newly published accounts.
The accounts for the year to 30 September 2016 reveal turnover had slumped from £20.8m in 2015 to £14.8m last year.
Owner Ballyvesey confirmed the haulier’s demise in May, with its remaining transport operations transferred to sister company Montgomery Transport.
The directors expressed their disappointment at the performance in the accounts, citing the loss of key contracts as the reason for mounting losses.
They said: “We continued to cut costs and tried to improve efficiency but post-year end we decided to restructure the organisation to focus on warehousing opportunities in Oldbury and less on road transport.
“With that in mind the company name was changed to Midlands Warehousing on 13 December 2016.”
The annual accounts show a pre-tax loss of £211,000 in 2014; £94,000 in 2015; and £2.4m in 2016.
In the accounts the operator’s auditor Grant Thornton, in an echo of RSM before it, warned there remained an uncertainty over the business’s ability to continue as a going concern given net current liabilities – at that point – of £4.6m, which left it reliant on parent Ballyvesey for support.
Birds Transport and Logistics was registered as Birds Groupage Services at Companies House until its change to Midlands Warehousing.
