Severe cashflow pressures coupled with tough trading conditions spelt disaster for Stockton-on-Tees-based NT Whitfield (Transport) according to its administrator.
The company, which provided road haulage, warehousing, storage and logistics services, closed down on the day FRP Advisory LLP was appointed to the business - 9 September - and 35 employees were made redundant.
The haulier’s customers included major shipping lines and it helped move goods from Liverpool and Teesport to destinations throughout the North of England.
It held a licence for 35 lorries and 80 trailers.
Following its appointment, the joint administrators marketed and sold the business’s assets in a private treaty sale to a third party, which it said would help maximise the return for creditors.
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An FRP spokeswoman confirmed that the sale was of NT Whitfield’s entire fleet and trailers.
Administrator Tonya Allison said: “NT Whitfield specialised in container haulage and supported the movement of goods across the UK.
“The business had suffered severe cashflow pressures following a reduction in trade and unfortunately it was forced to enter administration and cease trading with immediate effect.”
She added: “We are now providing support to the affected employees as a priority and are working closely with the redundancy payments service at what we know will be a difficult period.”
