Unsecured creditors of failed Deben Transport will not see a payout unless a claim relating to the truck cartel case proves successful, the firm's administrators have said.
The Felixstowe-based haulier employed more than 200 staff and had offices in Hull, Southampton, Tilbury, Alconbury, Birmingham, Manchester, Leeds, South Shields and Doncaster. It ceased trading in 2015.
The company had seen a decline in its turnover from approximately £30m at its height and recorded losses in the last two years of trading.
In its latest progress report, administrators at Ensors said it had so far received 199 creditor claims totalling around £4.4m.
However, any repayments hinged on the outcome of the cartel claim.
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The report said: “We are continuing to explore a potential claim for damages in relation to the European Commission ‘truck cartel’ ruling.
“This action may lead to a significant realisation into the administration which, depending on the extent of such an award, could result in full repayment to the secured creditors, as well as a potential return to both the preferential and unsecured creditors.”
Ensors said at the time it was appointed that Deben’s management had attempted to put in place a recovery plan and had taken cost-cutting measures in an effort to turn the business around. However ongoing losses meant that it could not meet its commitments to creditors.
