MT Top 100 company Deben Transport has ceased trading, with an administrator expected to be appointed later today.
The Felixstowe-based operator, which rescued Elite Transport Services from administration in 2013, blamed a “sustained period of losses” for the decision to cease trading, in a termination of employment letter seen by Motortransport.co.uk.
The letter, which carries Deben boss and former commercial director Rachael McCall’s name on it, states that while various funding options have been explored to keep the company going so it can pay staff and creditors, the board has concluded the container specialist can not keep trading.
Carrying today’s date (13 April), it goes on to state that the company has not yet entered into insolvency procedures, although Motortransport.co.uk understands the appointment of an administrator is imminent, and will likely happen later today.
Last October, Deben said its Elite purchase had pushed it into the red, with the company recording a £668,135 loss from a turnover of £34m.
Speaking at the time, McCall said that “the benefits of this acquisition [Elite] are now being seen in the second half of 2014. We anticipate 2015 to be a year of growth off the back of increased volumes and new business wins.”
The operator, which has depots in Southampton, Manchester and South Shields also, has combined O-licences for up to 267 vehicles and 283 trailers.
Deben was 65th in the most recent MT Top 100, published last autumn.
McCall could not be reached for comment as this story was published.
