South Molton Transport, a North Devon-based aggregates haulier, has entered administration after it ceased trading in November.
The company, which ran lorries out of six operating centres in the West of England traffic area appointed administrators at Opus Restructuring on 15 December.
Founded by director Chris Morris in the early 1980s, the haulier surrendered its standard national licence for 17 HGVs and four trailers just before Christmas.
Opus said South Molton Transport had encountered “significant challenges” in the run-up to its administration, including escalating fuel prices, rising wage costs, depreciation of franchised vehicles and the increasing cost of borrowing, which together placed sustained pressure on cashflow.
In a statement, it added: “Unfortunately, as a result of the appointment, 20 members of staff have been made redundant.
“The joint administrators are currently supporting affected employees with information relating to their statutory entitlements.
“Creditors or other interested parties seeking further information should contact the joint administrators directly.”
The company’s fleet comprised low loaders to cement mixers and insulated aluminium tippers, which it relied on to carry tarmac.
It ran a mixed fleet of Volvos and Scania tractor units.
South Molton Transport also operated a plant hire division on a short or long term basis: “Fulfilled by our sister company M&B Plant, which was founded in 1991 and is a member of FORS we are able to provide a range of plant hire options, operating with best practises at the core of everything we do,” the company said on its website.
