One of the UK’s leading independent, family-owned transport firms, Toogood International Transport and Agricultural Services, has collapsed into administration and ceased trading.
Advisory firm Mazars said the Pucklechurch, Bristol haulier had been struck by a range of problems, including Brexit and Covid-19, which had made for a difficult trading environment.
However, more recently it was faced with a loss of international freight work, the ongoing driver shortage and then substantial increases in fuel prices.
Its cash flow difficulties meant that the directors decided the business, which had been trading since 2006, had to be placed into administration.
All employees have now been made redundant.
Toogood operated a substantial warehousing and office facility in the South West and it was recently the primary shirt and club sponsor of the Bristol Bears Rugby Club.
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It ran a total of 11 HGVs and 12 trailers out of two operating centres on the Pucklechurch trading estate.
Mark Boughey, administrator at Mazars LLP said: “We are sorry to see a prominent South-West company like Toogood International Transport and Agricultural Services cease trading.
“The business had traded very successfully for a number of years but suffered from a string of external factors that have ultimately resulted in the directors taking the difficult decision to enter administration.”
“The headwinds of Brexit, Covid-19, driver shortages and, more recently, the fuel and energy crisis, have had a devastating impact on the sector,” he added.
“Once the conclusion was reached that the business was no longer viable, the directors were keen to act quickly and prevent the position for creditors worsening and appointed administrators.
“We are working closely with the company and its key stakeholders, and it is hoped a buyer will be found for part or all of the business.”