Major sugar beet haulier M and J Haulage collapsed into administration due to a heavy reliance on finance to fund investments, low margins and the prospect of less work from British Sugar, according to KPMG. The Lincolnshire company appointed administrators on 12 October after it was informed by British Sugar of a “significant reduction in the contract volumes”, which was to take effect in April 2018. The move compounded the financial problems M and J Haulage was already experiencing, raising […]
M and J Haulage, a major sugar beet haulage contractor, has been placed into administration prompting concerns among growers that they’ll struggle to find another company to harvest and deliver the crop.
British Sugar has agreed to make changes to its haulage scheme after alienating some operators by encouraging capacity investment with no guarantee of tonnage.
Mergers and acquisitions (M&A) activity in the transport sector throughout the world is predicted to rise for the fourth consecutive year, according to a report from KPMG.