Kirriemuir-based haulage firm AAD Transport is up for sale after falling into administration this week.
Administrators at Begbies Traynor took control of the business on Tuesday (6 February) and said they were on the hunt for a buyer for the haulier as a going concern.
Family-run AAD was established in 2011 and operates mainly across the UK as well as offering haulage services to customers in France and Spain.
Begbies Traynor said the haulage sector had suffered in recent years and AAD had experienced difficulty in its cash flow from rising operating costs as the price of fuel continued to increase and profit margins dwindled.
The company holds an operator licence for 40 lorries and 60 trailers out of four operating bases in Scotland.
Thomas McKay, a partner at Begbies Traynor, said: “Unfortunately, the transport sector has been severely impacted both by Covid and by higher than normal increases in fuel and other operating costs in recent times.
“After 13 years in business, we are working hard to enable AAD Transport to continue trading in order to find a buyer for the business and assets and help to secure the 65 employee jobs, which are currently at stake.
“The business has a skilled workforce and an extensive vehicle fleet of lorries and trailers.
“We believe the business is viable and we are working with our agents to find a buyer for the business and assets, as the business continues to trade at this time.”
Ken Pattullo, partner at Begbies and joint administrator, added: “Our priority is engaging with all stakeholders to find a solution for the business and employees going forward, including the loyal customer base which has worked with the company since its incorporation.”
The company was approached for comment.
