The transport sector is showing increasing signs of financial strain, according to insolvency specialist Begbies Traynor. The firm’s Red Flag Alert research revealed a 16% rise in the number of road freight companies showing financial distress. The research, which monitors the financial health of UK road freight companies, found increased cost pressure from rising fuel prices and the uncertainty created by Brexit has resulted in 2,487 companies classified as under significant financial distress in Q1, compared with 2,153 in Q4 […]
Gloucestershire haulier Eric Vick Transport is to close in April after almost 70 years of business.
All 39 jobs have been lost at family transport firm Mann Haulage in Chester-le-Street after the company was forced to close down last month.
Transport sector could cost Treasury up to £1.2bn in Bounce Back Loan Scheme defaults, researchers warn
The transport industry could cost the Treasury £1.2bn in Covid-19 loan defaults, according to research by Business Rescue Expert.