Freight Movement’s collapse into administration was brought about by financial difficulties caused by significant losses at one of its depots, bad debts and an employee defrauding it.
In a new report to creditors explaining how the Newport family-run haulier came to struggle in the final months of 2025 after trading successfully for more than 27 years, Begbies Traynor said cash flow challenges arose after it incurred £140,000 losses at its Avonmouth depot.
The company, which was a member of the UPN network, also faced increased costs of operations, including driver costs and employer NICs.
However, it also said Freight Movement was hit with two bad debts of £40,000, as well as discovering “the company’s garage compliance manager was defrauding the company at a cost of c£45,000; and the company’s fleet was running below capacity, affecting profit margins.”
Monex Group had shown interest in buying the business on a solvent basis but by mid-February 2026 it rejected the idea after due diligence revealed significant liabilities.
The company eventually entered administration on 6 March and Monex Distribution, part of the Monex Group, purchased the majority of its business and assets on the same day for £60,000, saving 61 of the 63 jobs at the firm.
“[Monex] Distribution was granted licences to occupy the company’s two rented premises for a period of three months on the basis that they paid rent and all associated costs of occupation,” the administrator said.
“In addition, as part of the transaction, Monex was granted an option to purchase the company’s freehold property for a consideration of £1.1m, which they can activate within three months.”
