The administrator for Woods (Haulage), which traded as Woodall Group, has confirmed that fuel costs were one of the reasons why the Birmingham transport company ultimately failed.

The former member of The Pallet Network appointed Duff & Phelps as administrator on 11 February and, after struggling to find a new owner, it is now in the process of closing down the business.

A statement from Duff & Phelps said: “On appointment the company ceased to trade and went into an orderly wind down with the site vacated by the joint administrator on 15 February 2019.”

Administrator Matthew Ingram added: “This was a long established haulage and transportation business based in the West Midlands. It has faced a number of challenges in recent years including the rising cost of fuel, a vital part of the haulage industry.

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“On appointment we began the process of assessing the viability of the company in the long run, but faced with the real prospect of not finding a new owner we had no option but to cease trading immediately.”

The company held a licence authorising a total of 54 HGVs and 50 trailers out of three operating centres in Birmingham and Nuneaton.

In December 2018, director Richard Woodall told that Woodall Group – the trading name of Woods (Haulage) - was no longer working with TPN, which it had worked with since 2010, but he did not give the reason why.