DBC Foodservice had no vehicle assets despite having 230 of them when it went under in March, as its fleet was run on a contract-hire basis.
DBC’s fleet of mainly Dafs delivered 8,000 multi-temperature products to customers each year. However, after attempts to sell the business earlier this year failed, administrator Baker Tilly Restructuring and Recovery opted to break it up to address a creditor deficiency of £77.9m.
Ryder and Petit Forestier UK were the main supplies of vehicles to DBC, although the company’s statement of affairs published at Companies House shows small amounts were owed to Masterlease, Daimler Leasing and ALD Leasing also. The vehicles have now been returned to the suppliers.
Baker Tilly states expansion, the loss of a major contract with Little Chef towards the end of 2010 and a squeeze of margins played their part in the company’s demise.
When two major credit insurers announced they were going to remove or reduce cover at the start of this year, the company’s fate was, in effect, sealed.