Oxfordshire-based Interoute Transport Services has been placed into administration, and its transport business closed with immediate effect.
The operator, which is based in Thame, appointed administrator Quantuma last Friday afternoon (17 May).
MT understands that Interoute director Neil Daniells had been offering the business for sale ahead of its collapse.
Carl Jackson, partner at Quantuma, told MT that the transport side of the business - a member of both the Pall-Ex and Hazchem Networks - had been loss making for several years and had been propped up by the warehousing operation.
However, a major client "significantly" reduced the business they were doing with Interoute recently and this combined with the company's weak balance sheet left the directors with no other choice but to call in Quantuma.
Around half of the firm's 65 employees have been made redundant as a consequence, and its vehicles have been returned, or shortly will be, to the respective firms they were leased from.
Interoute itself held an O-license for 35 vehicles and 53 trailers.
Quantuma is currently marketing the firm's 120,000ft² leasehold warehouse and associated customers for sale. Enquirers should be directed to carl.jackson@quantuma.com .
