Contract hire and rental firm Axis Fleet Management has entered administration and ceased trading. Insolvency experts at FRP Advisory were appointed to the company, with a head office in Long Hanborough, Oxfordshire on 10 May. In a statement from the administrators it said “challenging trading conditions resulted in cash flow difficulties and despite efforts to find a buyer for the business, a sale could not be achieved. “This left the directors no option but to place the business into administration. […]
Car transporter company Drive Force (UK) had only just returned to profitability after experiencing 18 months of cash flow difficulties, before Covid-19 forced it into administration.
Debts relating to road traffic accidents racked up by former drivers of a Birmingham contract haulier have been written off after it was concluded it would not be cost effective to track them down.
Struggling M and J Haulage threw in the towel after learning client British Sugar was to reduce its work, report reveals
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.