S&J European Haulage in Melton Mowbray has entered administration after more than 40 years of business.
The company had initially filed a notice of intention (NOI) to appoint administrators on 23 February and this was followed by a second NOI filed on 6 March, which gave it further protection from creditors.
However the transport company finally appointed Alvarez & Marshal to handle its affairs as administrator on 26 March.
The company had been trading since 1980 and it had grown to operate under an international licence authorising 45 HGVs and 80 trailers out of its Melton Commercial Park address.
Its last set of accounts showed that in the year ending 30 November 2022, it had increased turnover by 3.5% to £12.7m, although pre-tax profit had reduced by almost a third to £246,000.
The haulier, which is also a Palletline member, said in its business review that “significant inflationary cost pressures” had led to it managing its key costs and this had impacted its profitability.
The directors said fuel prices and staff costs continued to be the main risks it faced. At that point it employed around 80 staff, including 52 drivers.
Alvarez & Marsal did not respond to comment.
