NT Whitfield used MD’s pension fund to stay afloat


 

Stockton-on-Tees haulier NT Whitfield (Transport) was increasingly being kept afloat with cash injections from the MD’s pension pot in the months leading up to its administration. In a report to creditors, FRP Advisory said the company was suffering from “severe cashflow problems” and when it met with MD Ian Smallman on 21 August to discuss options, it was told it would run out of cash by the end of the month. The container haulage specialist had been trading since 1981 […]