The joint administrators handling the affairs of pallet and warehousing firm Place 2 Place Logistics said 20 jobs had been saved when it sold a contract and staff transferred with it.

The Staffordshire haulier entered administration on 4 June when Alan Coleman and Marco Piacquadio at FTS Recovery were appointed to the firm.

A spokeswoman for the joint administrators said “a large, loss-making contract” led to its collapse into administration and this also resulted in 20 staff being made redundant.

However, its remaining profitable contract was sold to a company called Emerald Specialist Logistics, which Companies House records describe as undertaking management consultancy activities.

It was incorporated in April this year and appears to have no connection with Place 2 Place.

The spokeswoman added that the remaining 20 employees were able to move across to Emerald with the contract sale.

Place 2 Place has also applied to surrender its operator licence, which authorised the movement of 20 HGVs and 22 trailers out of two depots, in Stone and in Newcastle-Under-Lyme.

Records show that this application remains under consideration.