The administrator of Kent-based Coolfruit said it had been unable to save the fresh fruit haulage business and was now attempting to sell off its assets instead.
The Ashford company, which traded out of two operating centres and held a standard international licence authorising 25 HGVs and 25 trailers, appointed administrators from SFP Restructuring on 28 April.
The haulage firm was formed in 2000 and SFP said it had successfully traded for many years before encountering numerous difficulties over recent times.
In a statement, the administrator said: “These challenges included rising overheads and operational difficulties, including the suspension of the firm’s operator licence.”
Documents published by the office of the traffic commissioner showed that Coolfruit had its licence revoked without a public inquiry at the beginning of 2023.
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The statement added: “Professional guidance was sought in April 2023 and SFP conducted a review of the circumstances.
“The strategy included marketing the opportunity to try and salvage the business. Once it became clear, however, that saving the business was not viable, SFP commenced an orderly winding down of the company’s affairs and is now in the process of selling the company’s assets on a piecemeal basis.”
Administrator David Kemp said: “Coolfruit seems to have once been a robust and successful trading business, however, problems accumulated and administration ultimately became the only realistic way forward for the company.
“With more and more companies being confronted with financial difficulties in the current economic climate, we urge directors to make themselves aware of the options available to them,” he added.
“For companies at risk of insolvency, the most important step they can take is to seek professional guidance at the earliest opportunity to secure the best result for the company and its employees.”
