The pre-pack administration and sale of Bedworth Haulage included an “anti-embarrassment clause”, according to a creditors’ report. The clause stipulates that the purchaser, C4-Safety, can not sell up within 12 months without paying 25% of the sale price back to administrator Quantuma to be used to settle debts of the collapsed business. The report also explained that Bedworth originally encountered financial problems in 2016, “arising from high costs of managing the fleet and unprofitable work leading to a reduction in margins”. […]
Creditors of Bedworth Haulage said they picked up on rumours of trouble at the company in the weeks before it entered administration.
This year’s most read was dominated by the sad demise of national haulier Canute, which never recovered from the end of its long-term contract with retailer Wilko last year.