Swindon-based OPX Logistics has become the latest haulage company to fall into administration.
The company appointed Andrew Beckingham and Sean Ward of Leonard Curtis as joint administrators on 5 June.
OPX Logistics specialises in haulage services to the retail sector and has operating licences for 91 trucks and 92 trailers.
It is part of the OPX Group, which was founded in 2021 by entrepreneur Lee Hallett, after he rebranded his businesses under the OPX Group banner.
The OPX Group includes OPX Recruitment (formerly OPEX Personnel), OPX Logistics (formerly OPX International) and OPX Distribution which was launched in 2022.
OPX Logistics’ most recent accounts, for the five-month period from 1 August 2022 to 31 December 2022, revealed turnover falling to £6.5m, compared to £15.5m in the year to 31 July 2022.
In the same period the company reported a pre-tax loss of £55,624, down from £1.1m in the previous 12 months.
In its strategic report to the accounts the company said 2022 had been a challenging year, following the Covid-19 pandemic and a period of strong growth.
However, the report added that OPX Distribution had been generating revenue since its launch and the directors were optimistic about its potential to grow revenue from new and existing customers.
It also noted that OPX Logistics had seen “record turnover” in 2023, increasing its client portfolio and winning new business in additional sectors, making the business more resilient to economic changes.
In an official statement, Leonard Curtis said: ”The administrators are assessing the financial position of the company and its associates, OPX Recruitment Limited and OPX Distribution Limited, and will report further to the companies’ creditors in due course.
“It has not been possible for the group’s haulage operations to be maintained although options are being explored to sustain the group’s storage facilities.”
Attempts to contact both the OPX Group and OPX Logistics have so far been unsuccessful.
