Latest Administration news
South Molton Transport’s financial struggles outlined in report
A Devon haulier’s collapse into administration has been blamed on spiralling fuel prices, high financing costs and loans, as well as a VAT error in its accounts that added £280,000 to its debts.
HMRC attempting to wind up Scottish transport and storage firm
One of Glasgow’s leading removals and storage companies has had a petition to wind up operations served on it, putting at risk nearly 20 jobs.
Tenants vacating premises precipitated Circle’s pre-pack sale
Circle Express was on the verge of becoming profitable following a major restructure when two of its business tenants announced they were moving out, making operations unsustainable according to its administrator.
Figures suggest haulage insolvencies have peaked
The number of insolvencies in freight transport may have already peaked, according to estimated official figures for the sector.
Yorkshire scrap metal recycler and haulier in administration
One of the largest independent metal recycling companies in Europe and its transport arm have plunged into administration with the loss of more than 100 jobs.
MT Transport and recycling firm sold for more than £3.5m
The pre-pack sale of a West Midlands metals recycler and its transport division just before Christmas cost its purchaser £3.6m, the administrator has confirmed.
Loss of major contract led to Lancashire haulier’s closure
Earl Transport in Accrington collapsed after almost 30 years of trading when its largest customer enforced “uneconomical” restrictions on a contract and then withheld a £156,000 payment, new documents revealed.
Circle Express’ purchaser says firm can “thrive”
The new owner of Circle Express said all 158 jobs at the air freight specialist were saved when it bought the firm out of administration just before Christmas.
Devon haulier collapses with loss of 20 jobs
South Molton Transport, a North Devon-based aggregates haulier, has entered administration after it ceased trading in November.
Circle Express calls in the administrators
Air freight specialist Circle Express collapsed into administration and has now been sold to new owners, its chief financial officer (CFO) told Motor Transport.
