Humber-based haulier Mark Stewart Limited is in the process of calling in the administrators, the company told MT today (17 October).

The family firm, which is based in North Killingholme, has posted a notice to appoint administrators. The applicant behind the move is Bibby Financial Services, which holds a charge over the company.

Source: Mark Stewart Ltd

A spokesman for Mark Stewart told MT that meetings are ongoing and the company would provide more information on the appointment of an administrator later this week.

Mark Stewart Limited, which trades as Mark Stewart International Transport, was founded in 2009 and employs around 25 staff. It has operating licences for 53 trucks and 23 trailers.

The company specialises in handling trailer and container movements to and from the Humber ports of Killingholme and Immingham and offers transportation and haulage services across the UK, mainland Europe and Scandinavia, as well as storage and warehousing services.

In its latest annual results to 31 October 2022, the company reported a profit of just over £590,000.

In March this year Olanrewaju Lawal, an investment professional, who is a director of Norland Equity Partners, became the largest shareholder in Mark Stewart Limited with a stake of over 75% in the company. At the same time Robert Van Den Berg joined the board as a part time member.

At the time of his appointment Van Den Berg, a consultant with a wide portfolio of specialisms, including data sciences, vaccines innovation, talent development and driving change, said on his Linked In account: “I am proud to be board member of Mark Stewart Ltd and keen to do my part to take the company to the next level.”