Chesterfield haulier Home Delivery Solutions has entered administration after attempts to sell the business fell through.
The company, which holds operator licences in the North East and North West traffic areas, ceased trading on 5 July and joint administrators Mark Malone and Gareth Prince were appointed on the same day, according to Begbies Traynor.
The rescue and recovery firm said that prior to this development, the haulier had sought advice about how to improve issues relating to cash flow and growing legacy debts.
It was decided that an accelerated sale offered the best opportunity to save the business, which provided two-man delivery services across the UK.
To allow time for the sale process, Home Delivery Solutions filed a number of notices of intention to appoint administrators.
Credit records show these notices were lodged on 7 June, 20 June and 3 July.
Begbies Traynor said it received offers from “multiple parties” interested in purchasing the business and a preferred bidder was identified.
“Discussions with key customers regarding the provision of future services formed part of the due diligence process,” it said in a statement.
“However, as a result of growing uncertainties over the company’s ability to provide its services, some of its biggest customers sought alternative suppliers, leading to the withdrawal of the preferred bidder’s interest.
“Other bidders who had shown interest in Home Delivery Solutions Limited were contacted, but it became clear that the only viable course of action was the managed wind down of the company’s operations.”
The haulier, which was incorporated in 2009, operated 20 lorries out of a Sutton-in-Ashfield depot and a total of 16 HGVs out of two operating centres in Chesterfield.
“Mark Malone and Gareth Prince will now secure and realise Home Delivery Solutions Limited’s remaining assets and deal with employee claims,” Begbies Traynor added.
