Derbyshire-based Surfair Global Logistics has called in the administrators.
The company has appointed administrators Milner Boardman & Partners in Hale, Cheshire and a creditors meeting will be held on 26 April.
Staff at the company, which trades as Surfair Logistics, told Motortransport.co.uk this week that owner and MD Paul Cannon has left the business.
It is understood that that the company may be bought by Transafe Training. Cannon was a director of Transafe Training until April last year.
Surfair Logistics, which is a UPN Pallet network member and expanded its coverage for the network last September, operates a 15,240m² depot in Woodville, Derbyshire. It also has a coastal hub at Immingham and depots in Belfast, Dublin, and Cork.
It runs a fleet of 17 vehicles and 14 trailers
In 2014 the company rebranded from Surfair Global Logistics to Surfair Logistics as part of an expansion drive. This saw it invest in new warehousing, expand its fleet and boost staff numbers.
It also joined UK Pallets covering the South Derbyshire and East Staffordshire regions. It later joined UPN covering the LE postcode after it was announced that UK Pallets would be wound up.
A spokeswoman at the administrators said: "The directors of the company appointed us to put the company into liquidation."
Asked what had triggered its financial problems, she added: "The liabilities were higher than the assets but we are not sure yet if that was due to its debtors."
