A number of loss-making contracts contributed to the demise of Anglesey-based logistics and shipping firm Gwynedd Shipping, according to the company’s joint administrators.

Gwynedd Shipping, which includes Gwynedd Transport, was founded in 1984. It filed for administration this week resulting in the closure of it depots and offices in Holyhead, Deeside, Newport, Dublin, Belfast and Birkenhead. The closure has left over 100 staff facing redundancy.

The group, which was a Palletways member, offered shipping, transport, warehousing and customs clearance services and specialised in the construction, steel and FMCG sectors. It has a fleet of 650-plus trailers and employed a total of 142 staff.

Gwynedd Shipping has appointed James Andrew Saunders and Michael Vincent Lennon of Kroll Advisory as joint administrators.

In a statement issued today (17 January), the joint administrators said: ”The businesses, which originally began trading almost 40 years ago, have faced financial challenges common in the transport and distribution sector including certain loss-making contracts.

”Unfortunately, due to the extent of legacy liabilities, the businesses were unable to secure their future on a going concern basis and as such the majority of employees were made redundant with immediate effect as the businesses ceased to trade upon appointment.

”The joint administrators are in discussions with several parties interested in acquiring certain assets, contracts and routes and it is hoped that this will provide opportunities for a number of former employees. Support is also being provided to former employees to ensure that statutory entitlements can be claimed.”