More than one-third of transport and haulage businesses in the UK are at risk of collapse, according to insolvency trade body R3.
According to R3, 13,038 (35%) of the UK’s 37,611 transport and haulage firms had a 'higher than normal' insolvency risk during April.
Within this, the Yorkshire and the Humber fared best, with 30% of the region’s 3,068 transport and haulage firms at a heightened risk, a 4% fall from the previous month. This compares with a fall of less than 1% nationally.
“Generally, the transport and haulage sector tends to reflect the state of the economy and is a good indicator of manufacturing and retail activity,” said William Ballmann, chair of R3 in Yorkshire and partner at national law firm Gateley.
“While we saw signs of increased confidence last year with hopes that the recovery would drive demand for logistics services, the benefits have been slow to be felt.
"However, falling oil prices have provided a welcome boost to the sector and those businesses that have survived the tough challenges of the last six years, are now in a strong position to take advantage of the upturn,” he said.
Deben Transport is the latest high profile insolvency casualty, ceasing trading earlier this month.
