All administration articles – Page 11
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MT ArticleS&L Services in administration with the loss of 33 jobs
The failure of a Stoke haulage operator was caused by soaring fuel prices, post-pandemic supply chain issues and a £100,000 bad debt after Kenyon Road Haulage collapsed, a report has revealed.
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MT ArticleJAD Trans Scotland enters administration
North Lanarkshire-based haulage firm has entered administration despite “significant efforts” by the directors to keep the business going. JAD Trans Scotland appointed French Duncan LLP to handle its affairs on 10 November after it had accrued significant debts which it was no longer able to service. The transport ...
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MT ArticleCertas buys business and assets of Green Biofuels
The business and assets of HVO supplier Green Biofuels have been acquired by energy firm Certas after it collapsed into administration.
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MT ArticleRecord 463 hauliers collapse in last year, report reveals
A record 463 British haulage businesses have collapsed in the last 12 months, more than double the number two years ago, according to data obtained by Price Bailey, the Top 30 accountants.
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MT Article
Hemisphere Freight Services to acquire two divisions of Magnus Group
Supply chain specialist Hemisphere Freight Services (HFS) is set to purchase the warehousing and freight forwarding divisions of Magnus Group, after the Ipswich-based haulier announced its intention to call in the administrators earlier this month.
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MT ArticleMagnus Group files intention to appoint administrator
Haulage and warehousing company and Ipswich Town FC sponsor Magnus Group has filed a notice of intention to appoint administrators in court.
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MT ArticleMagnus Group files intention to appoint administrator
Haulage and warehousing company and Ipswich Town FC sponsor Magnus Group has filed a notice of intention to appoint administrators in court.
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MT ArticleKinaxia buys Nelson Distribution as parent company KNP Logistics files for administration
Kinaxia Logistics has acquired the trade and assets of KNP Logistics Group subsidiary Nelson Distribution after the group, which includes Knights of Old and Steve Porter transport, filed for administration late last week, after suffering the fall out from a major cyber attack. Nelson Distribution, which is based in Belper, ...
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MT ArticleCyber attack pushes KNP Logistics into administration with loss of 730 jobs
A major ransomware attack on KNP Logistics was a key contributor to the group’s demise, administrators have revealed.
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MT Article
Administrator set to rescue struggling haulier with CVA
The administrator for a Somerset haulage firm is trying to rescue the business through a company voluntary arrangement (CVA) after a review of its financial position showed that it was still solvent.
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MT ArticleMark Stewart collapse led to loss of 41 jobs, administrator reveals
The closure of Lincolnshire’s Mark Stewart International Transport led to 41 staff losing their jobs, according to its administrator.
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MT ArticleVolta Trucks files for bankruptcy after battery supplier goes bust
Electric truck manufacturer Volta Trucks has filed for bankruptcy in Sweden and is set to file for administration in England, after its production targets were hit by the demise of its battery supplier Proterra, which hampered its ability to raise funds.
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MT ArticleElectraMeccanica pulls plug on Tevva merger deal
A deal to merge British electric lorry maker Tevva with ElectraMeccanica in the US has fallen through after the vehicle designer alleged “multiple incurable breaches”.
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MT ArticleGreen Biofuels calls in administrators, less than two years after BP takes 30% stake
Green Biofuels, the largest UK supplier of hydrogenated vegetable oil (HVO), has collapsed into administration, just 20 months after BP took a 30% stake in the company.
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MT Article
Hauliers like KNP Logistics vulnerable to ransomware attacks, cyber crime report warns
As the dust settles around the collapse of KNP Logistics, which was triggered by a major cyberattack in June, a new report warns that ransomware attacks are on the rise and urges businesses to take preventative action.The report Ransomware, extortion, and the cyber crime ecosystem, published by GCHQ’s National Cyber ...
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MT Article
"Bullying" bankers accused of dragging Lloyd Fraser into "unnecessary" administration
Lloyd Fraser Group and its parent company Barbican Capital have slammed Close Brothers and Close Invoice Finance for triggering the administration of the milk and fashion haulier in a move it claims was “wholly unnecessary” and the result of “bullying” and “spiteful” tactics.Birmingham-based Lloyd Fraser Group was placed into administration ...
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MT Article
Glasgow vehicle transport specialist stalls
Vehicle transport specialist Glasgow Car Movers has entered administration with all 25 of its staff made redundant.Established in 1999 in Uddingston, Glasgow, the company regularly transported more than 1,000 vehicles each week across the UK and relied on a fleet of 28 HGVs operating out of two bases.According to administrator ...
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MT Article
Wilko DCs to close next week with loss of nearly 300 jobs
Wilko’s two distribution centres at Worksop in Nottinghamshire and Newport in Wales are set to close by Friday next week (22 September), with the loss of more than 300 jobs, whilst the retailer's 408 stores will close by early October, according to administrators PwC.The announcement of the store closures follows ...
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MT Article
Economic headwinds blew Cross Transport off course
Cross Transport failed due to the Covid pandemic and rising costs, according to documents recently released by its administrator.The Birmingham haulier, which provided road transport services across the UK and Ireland, brought in financial experts on 5 June after being hit by a series of economic headwinds. The company was ...